S&P Global Inc. (SPGI) reported an increase in first-quarter profits compared to the same quarter last year, surpassing Wall Street predictions.
The company's earnings amounted to $991 million, or $3.16 per share. This is an improvement from last year's first quarter which saw earnings of $795 million, or $2.47 per share.
When excluding certain factors, S&P Global Inc.'s adjusted earnings were reported at $1.26 billion or $4.01 per share for the quarter. On average, analysts expected the company's earnings per share to be $3.66, based on data collected by Thomson Reuters. These estimates often exclude exceptional items.
Revenue for the quarter grew by 10.4%, coming in at $3.49 billion as opposed to last year's figure of $3.16 billion.
A straightforward summary of S&P Global Inc.'s earnings under generally accepted accounting principles (GAAP) reveals their earnings in the first quarter were $991 million compared to $795 million in the previous year. Quarterly earnings per share were $3.16 compared to $2.47 of the previous year. The revenue of the first quarter was $3.49 billion compared to $3.16 billion of the previous year.
For the full year, the anticipated earnings per share are projected to be between $13.85 - $14.10.
