London Stock Exchange Group PLC (LSE:LSEG) reported strong growth in the third quarter as it said it is on track to deliver full-year growth towards the upper end of previous guidance of 6-8%.
The stock market operator said in the third quarter total income grew 8.0% to £1.97 billion from £1.91 billion while gross profit climbed 8.2% to £1.77 billion from £1.70 billion.
Growth was reported across the business with Data & Analytics up 7.2%, Capital Markets climbing 6.2%, driven by TradeWeb, and Post Trade rising 17.0%.
LSEG said it continues to make very good progress building new products with Microsoft and is on target to launch with customers in the second half of 2024.
All 2023 guidance was reiterated, including EBITDA margin and capex.
David Schwimmer, chief executive, said: “LSEG delivered another quarter of strong, broad-based growth”, establishing a “consistent track-record of growth in our Data & Analytics business”.
“Our Capital Markets revenues accelerated in the third quarter, with ongoing innovation increasing Tradeweb's share of global credit trading.
“Our Post Trade businesses also continue to grow strongly as customers look to our risk management services in an uncertain macro environment.”