London Stock Exchange Group plc: Q3 2024 Trading Update
Strong Q3 performance, extending our track record of broad-based growth; further strategic progress
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.”
| 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 |