Why S&P Global Stock Trounced the Market on Thursday
Thursday was one of those days when S&P Global (NYSE: SPGI) stock performed far better than the top equities index it manages. Following the release of its third-quarter results, the financial information and analysis specialist's share price vaulted 7% higher. By contrast, its S&P 500 index only crawled 1.9% ahead.
S&P Global posted revenue of just over $3.08 billion for the quarter, according to both generally accepted accounting principles (GAAP) and non-GAAP (adjusted) standards. This was 8% higher than its take in the same period last year. Adjusted net income ticked up at a 6% pace to land at slightly more than $1.02 billion, or $3.21 per share.
Both figures topped the consensus analyst estimates, particularly the bottom-line one. On average, prognosticators following S&P Global stock were modeling $3.03 billion for revenue, and only $3.04 per share for adjusted net income.
Source Fool.com
