Strong Financial Performance
Total revenue increased 16% year-over-year, with a 21% growth in EPS and 330 basis points of trailing 12-month margin expansion. The company repurchased $2 billion in shares year-to-date.
Ratings Division Outperformance
Transaction revenue in the Ratings division grew by 83% year-over-year, with operating profit increasing by 48% and a 510 basis point increase in operating margin.
Indices Growth
Revenue in S&P Dow Jones Indices increased 18%, driven by a 22% increase in asset-linked fees and a 16% increase in exchange-traded derivatives revenue.
Generative AI Integration
The company has introduced new AI functionalities like Cap IQ Pro in Market Intelligence and AI-powered chatbot ChatAI in Commodity Insights, showcasing innovation in AI.
Increased Guidance for 2024
S&P Global raised its guidance for 2024, expecting revenue growth of 11.5% to 12.5%, adjusted margin expansion of 200 to 250 basis points, and adjusted diluted EPS in the range of $15.10 to $15.30.