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.
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.
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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.