Markit Reports Q3 2015 Metrics, Revenues Orchestrate YoY Advance

During Q3 2015, Markit saw its revenues climb to $277.3 million, up 2.8% YoY from $269.7 million in Q3 2014.

Markit Ltd. (Nasdaq:MRKT), a global provider of financial information services, has announced its Q3 2015 financial metrics ending September 30, 2015, according to a Markit statement.

For Q3 2015, Markit saw its revenues climb to $277.3 million, up 2.8% YoY from $269.7 million in Q3 2014. Year-to-date (YTD), the story is largely similar, having ascended to $821.9 million for the first nine months of the fiscal year, representing a jump of 3.6% YoY from $793.7 million over the same period in 2014.

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In addition, the group saw operating expenses come in at $149.7 million in Q3 2015, constituting a 5.0% rise YoY from just $142.6 million in Q3 2014. By extension, Markit’s operating expenses as a percentage of revenue, increased to 54.0% during Q3 2015, slightly up from 52.9% in Q3 2014.

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Finally, Markit’s adjusted EBITDA was reported at $123.5 million for Q3 2015, down – 2.6% YoY from $126.8 million in Q3 2014.

Last month, Markit made headlines after it has launched its cloud-based Know Your Third Party (KY3P) service. KY3P is delivered as a comprehensive software service that is hosted by the Dell Cloud Dedicated Service platform – it includes such utilities as managed infrastructure and applications services. KY3P represents Markit’s first centralized, cloud-based data hub and will aim to help streamline third party risk management processes with an emphasis on vendors and extant monitoring.

Markit’s (Nasdaq:MRKT) share prices have been pointed higher since Q2 this year, when the group initiated a new public offering that saw over 24 million common shares for sale, as well as nearly 1.7 million additional common shares from the selling shareholders. At the time of writing, Markit’s stock has ascended to $30.02 ahead of the US open Tuesday, still below a 52-week high of $30.87.

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