Experian (LSE:EXPN) upgraded its outlook for the year to March 2024 after organic revenue growth came in higher than expected for the past quarter.
On an organic basis at constant exchange rates, revenue at the FTSE 100-listed credit reporting group grew 6% in the three months to the end of December, while total revenue at actual exchange rates was up 9%.
Chief executive Brian Cassin said the performance was at the upper end of expectations and for the full year the board now expects organic revenue growth to be between 5-6%, compared to 4-6% before and the consensus City forecast around 5.2%.
Profit margins are expected to see "modest accretion".
Organic growth accelerated in all main regions compared to the second quarter, led by 13% in Latin America (10% in Q2), 5% in North America (Q2 4%) and 3% in the UK (Q2 2%).
The Consumer business at 10% was particularly strong, with business-to-business growth at 5%.
Shares in the company rose 2% to 3,188p in early trading on Tuesday.
Broker Liberum said: "This quarter confirms that Experian (LSE:EXPN) is gaining market share in the US and continuing to benefit from structural growth in Brazil in an environment where lending standards remain tight and most consumer credit markets are soft. This augurs well for medium term organic growth, as interest rates are cut and the macro backdrop improves into 2025E."