by The Chicago Times Business Staff
September 28, 2021
LONDON — IHS Markit Ltd. reported a drop in 3Q profit despite increased revenue in financial services, transportation, and consolidated markets and solutions.
The information and analytics firm reported $161.3 million in net income attributable to the company for the fiscal third quarter, compared to $162.9 million in the same period last year.
Earnings per share were 40 cents, down from 41 cents the previous year.
Adjusted earnings per share for the quarter ended Aug. 31 were 85 cents.
Revenue increased from $1.07 billion to $1.18 billion. Our analysts predicted $1.14 billion.
Financial services revenue increased by 10%, transportation revenue increased by 16%, and consolidated markets and solutions revenue increased by 12%. Revenue from resources remained flat.
Operating expenses increased from $812 million to $889.7 million.