NEW YORK - S&P Global (NYSE: SPGI) reported a robust first quarter for 2024, surpassing analyst expectations with an earnings per share (EPS) of $4.01, which was $0.36 higher than the consensus estimate of $3.65.
The company's revenue also exceeded forecasts, coming in at $3.49 billion against the anticipated $3.41 billion. The financial intelligence company's shares responded positively to the news, climbing 1.62% as investors digested the earnings and revenue beat.
The company's performance represents a solid start to the year, with the revenue figure marking a significant increase from the same quarter last year. S&P Global's strong results are attributed to their comprehensive offerings that support a wide range of industries with essential data and analytics.
Looking ahead, S&P Global provided guidance for the full year 2024, projecting an adjusted EPS range of $13.85 to $14.10. This forecast falls slightly short of the analyst consensus, which stands at $14.11. Despite this, the midpoint of the company's guidance, $13.975, is only marginally below the consensus estimate, suggesting a cautious but nearly aligned outlook with market expectations.
In a statement, the company's management highlighted the strategic initiatives and operational efficiencies that have driven the quarter's success, with a focus on delivering value to shareholders.
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