Markit Releases Third Quarter Operating Figures, Revenues Swell 13.1% Year-over-Year

Global provider of financial information services, Markit Ltd (NASDAQ:MRKT) has released its third quarter operating metrics, highlighting a 13.1% YoY

markit_logoGlobal provider of financial information services, Markit Ltd. (NASDAQ:MRKT), has released its third quarter operating metrics, highlighting a 13.1% year-over-year increase in revenues.

Markit released a report last month that showed rising earnings that exceeded expectations and instigated a 5% rise in share prices. At the time of writing, MRKT prices were trading at $24.92 per share, down 0.03% on the report’s release.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Third Quarter Operating Metrics

Markit’s consolidated income statement for the three months ending September 30, 2014, revealed revenues of $269.7 million, a 13.1% jump from $238.4 million during the same three months ending September 30, 2013.

Suggested articles

The Best PSPs for Forex Brokers in One UTIP App  Go to article >>

In addition, operating profits swelled to $95.3 million during Q3 2014, compared to just $53.6 million in Q3 2013 (77.8% rise). Basic earnings per share also nearly tripled to $0.45 per share during Q3 2014, up from $0.18 in Q3 2013.

In terms of assets, total non-current assets, which consolidates property, plant and equipment, intangible assets, deferred income tax assets, and derivative financial instrument, assets came in at $3,108.1 million in Q3 2014. This constituted the vast majority of Markit’s $3,479.0 million in assets overall, with $370.9 million in current assets.

Third Quarter Developments

Q3 of 2014 saw several developments for Markit’s global business, which included the closure of its OTC derivative pre-trade credit checking platform Credit Centre on October 9, 2014.

Moreover, on July 1, 2014, the company also completed the acquisition of a majority shareholding in Compliance Technologies International LLP. Finally, back in July 1, 2014, Markit also completed the sale of Markit Trade Reporting (“BOAT”) to Cinnober Financial Technology.

Got a news tip? Let Us Know