IHS Markit Ltd. (NYSE: INFO) reports its financial results for the fiscal first quarter on Tuesday that topped analysts’ estimates for profit and revenue by a slight margin. The financial services company said that all of its business segments performed better than expected in Q1.
IHS Markit shares that you can conveniently trade online via a range of user-friendly apps are currently trading at £68.34. In comparison, the stock had started the year 2021 at a per-share price of a slightly lower £66.04. IHS Markit had tumbled to a low of £34.75 per share in March 2020.
IHS Markit’s Q1 financial results versus analysts’ estimates
IHS Markit reported £108.46 million of net income in the first quarter that translates to 26.88 per share. In the comparable quarter of last year, its net income stood at a much higher £352.33 million, or 87 pence per share.
In the prior quarter (Q4), the London-headquartered company had registered a 1% decline in its revenue.
Adjusted for one-time items, the information provider earned 51.58 pence per share in Q1 versus the year-ago figure of 47.95 pence per share. Markit valued its revenue in the recent quarter at £810 million – a 4% annualised growth.
According to FactSet, experts had forecast the company to record £800 million of revenue in the first quarter. Their estimate for adjusted per-share earnings was capped at a marginally lower 50.85 pence.
In separate news from the United States, diversified multinational mass media conglomerate ViacomCBS said it will raise £2.18 billion via stock offerings.
Other prominent figures in IHS Markit’s earnings report
Other prominent figures in IHS Markit’s earnings report on Tuesday include a 10% decline in resources revenue, a 5% increase in transportation revenue, and an 11% growth in financial services revenue in Q1.
The American-British firm noted £177.98 million of cash flow from operations and £124.95 million of free cash flow. CFO Jonathan Gear commented on the financial update on Tuesday and said:
“As our end markets and business continue to recover, we now expect to deliver results in the upper half of our 2021 revenue, adjusted EBITDA, and adjusted EPS guidance ranges.”
IHS Markit performed fairly upbeat in the stock market last year with an annual gain of close to 20%. At the time of writing, the New York Stock Exchange-listed company is valued at £29 billion and has a price to earnings ratio of 43.63.
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