London-based information provider IHS Markit (INFO) reported fourth-quarter earnings that surpassed analysts’ estimates on Friday. Earnings for the quarter came in at 57 cents per share, 2 cents higher than what the street had projected.
However, on a reported basis, earnings fell to 20 cents per share from 26 cents per share a year ago.
Revenue jumped 13% to $1.07 billion, slightly missing the analysts’ expectation of $1.08 billion. The top-line was primarily driven by the Financial Services segment, which grew 27% to $409 million.
While the Transportation and Resources segments rose 11% and 3% respectively, Consolidated Markets & Solutions declined 1% during the quarter.
CEO Lance Uggla said, “We had a very successful 2018 and delivered strong diversified financial results that were in line with our expectations. Operationally, our teams are performing at a high level, and we are well positioned within each of our end markets, which gives us the confidence to achieve our 2019 guidance.”
For the year ending November 30, 2019, IHS Markit expects revenue in the range of $4.425 billion to $4.500 billion.
Adjusted EPS for this period, is meanwhile, projected in a range of $2.52 to $2.57 per diluted share.
INFO shares have gained 3.4% in the trailing 52 weeks. The stock ended its last trading session down 0.26% on Monday.
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