London Stock Exchange Group PLC (LSE:LSEG) reported a strong start to 2026 and upgraded its outlook for the full year on the back of continued momentum in trading, subscriptions and new AI-driven products.
The exchange and data group said total income rose 9.8% in the three months to March, with particularly strong growth in its Markets division, up 15.5%, driven by higher trading volumes in volatile conditions.
Subscription businesses, which provide more predictable recurring revenues, grew 6.3%, with all divisions accelerating from the previous quarter.
LSEG now expects full-year revenue growth to land in the upper half of its 6.5-7.5% guidance range, alongside an improvement in EBITDA margins of 80-100 basis points and equity free cash flow of at least £2.7 billion.
The group returned £1.1 billion to shareholders in the quarter through buybacks and said it remains on track to complete a £3 billion programme by early 2027.
A key driver of growth is the rollout of AI-enabled data products. More than 150 customers have connected or are onboarding to its Model Context Protocol server, which distributes data into AI models and cloud platforms.
Chief executive David Schwimmer said the group had made a "great start to 2026 across the board", with use of its data at record levels.
"We have continued to execute on our LSEG Everywhere strategy for the distribution of AI-ready data. Over 150 customers have connected or are onboarding to our MCP server, and our new AI tools within Workspace are generating very positive feedback. Our focus through 2026 will be on roll-out and adoption of these services."
New tools within the Workspace platform, including AI search and research functions, are being piloted and rolled out, with the group expecting these to support future revenue growth through higher usage and cross-selling.