NEW YORK – S&P Global (NYSE: SPGI) reported a strong first quarter of 2024, beating analysts' expectations with earnings per share (EPS) of $4.01, which was $0.36 above the consensus estimate of $3.65.
The company's revenues also exceeded expectations, reaching $3.49 billion compared to the expected $3.41 billion. Shares of the financial intelligence company responded positively to the news, rising 1.62% as investors digested the gains and revenue.
The company's performance represents a strong start to the year, with the revenue figure representing a significant increase compared to the same quarter last year. S&P Global's strong results are attributable to its comprehensive offerings that support a wide range of industries with fundamental data and analytics.
Looking ahead, S&P Global provided full-year 2024 guidance, forecasting an adjusted EPS range of $13.85 to $14.10. This forecast is slightly lower than the analyst consensus, which stands at $14.11. Despite this, the midpoint of the company's guidance, $13,975, is only slightly below the consensus estimate, suggesting a cautious outlook but roughly in line with market expectations.
In a statement, the company's management highlighted the strategic initiatives and operational efficiencies that contributed to the success of this quarter, with a focus on delivering value to shareholders.
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