Q3 Trading Update
24 October 2024
David Schwimmer, CEO said:
“We delivered a particularly strong quarter, with healthy growth in our subscriptions business and very strong performance in our high-quality volume-based businesses.
“We are executing successfully on our strategy, delivering multiple new products in Q3. The ongoing transformation of our business with faster product innovation and more powerful solutions is driving higher user engagement and better outcomes for our customers. Our partnership with Microsoft continues to make strong progress and our product timetable is on track.
“We are confident of continued growth as we look forward to 2025.”
Related documents
Q3 2024 highlights
(All growth rates on an organic constant currency basis unless otherwise stated)
- Strong growth: Total income (excl. recoveries) +9.5% constant currency and +8.7% organic
- All divisions contributing to growth: Data & Analytics +4.6%, FTSE Russell +9.2%, Risk Intelligence +10.4%, Capital Markets +22.4%, Post Trade +4.8%
- ASV growth in-line with guidance: Period-end ASV growth of +6.0% consistent with guidance; continue to expect ASV growth to remain around 6% for the rest of the year
- High cadence of product innovation: Launched global cloud-based DataScope offering, new Main Market for UK equities, multiple Workspace enhancements, SOFR futures clearing for FMX
- Product development with Microsoft progressing well: On track to deliver against our product timetable
- Acquiring 8.3% of LCH Group, taking ownership to 94.2%: Agreement to acquire further minority interest in LCH Group for €433 million
This release contains revenues, cost of sales and key performance indicators (KPIs) for the three months ended 30 September 2024 (Q3). Constant currency variances are calculated on the basis of consistent FX rates applied across the current and prior year period (GBP:USD 1.243 GBP:EUR 1.150).Organic variance is calculated on a constant currency basis, adjusting the results to remove disposals from the entirety of the current and prior year periods, and including acquisitions from the date of acquisition with a comparable adjustment to the prior year. Certain columns and rows may not add due to the use of rounded numbers for disclosure purposes.
Q3 2024 investor and analyst conference call
LSEG hosted a conference call for its Q3 Trading Update for analysts and investors on 24th October 2024. On the call were David Schwimmer (Chief Executive Officer) and Michel-Alain Proch (Chief Financial Officer). Listen to a replay of the conference call below.
This is an audio-only recording.