LSEG Q1 Gross Profit, Income Rise; Says Confident Of Continued Growth, Improving Profit Ahead

(RTTNews) - London Stock Exchange Group plc (LSEG.L) reported Thursday that its first-quarter gross profit went up 6.9 percent to 1.89 billion pounds from last year's 1.81 billion pounds.

The growth was slightly ahead of total income excluding recoveries as a result of the lower growth in cost of sales.

Total Income excl. recoveries grew 4.1 percent to 2.09 billion pounds from prior year's 2.01 billion pounds. Total Income iincluding recoveries increased 3.9 percent to 2.18 billion pounds from last year's 2.10 billion pounds.

Looking ahead, the company said it is confident of continued growth and improving profitability. The company is on track to deliver all financial guidance provided in November 2023's Capital Markets Day.

David Schwimmer, CEO said, "We have started the year well, delivering another quarter of solid growth consistent with our plans... We continue to make strong progress in our Microsoft partnership, with a number of products expected to be in external pilot or general release this half. We are now picking up the pace of migrating our datasets onto the Microsoft platform, which will transform access to our data for customers. We look forward to further progress in the rest of the year."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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