LONDON (Reuters) – London Stock Exchange Group, the operator of the London Stock Exchange, announced on Friday a 16.2% increase in its turnover in the third quarter, to 1.905 billion pounds (2.18 billion euros). ), and has not changed its forecasts or targets.
Analyst consensus was for revenue of £1.881 billion, excluding recoveries. Third-quarter gross profit came in at 1.696 billion pounds, roughly matching analysts’ consensus of 1.7 billion pounds.
“Our strategy is working, it is generating growth and increasing efficiency,” David Schwimmer, chief executive of the British group, said in a press release.
LSE had announced in August the launch of a share buyback of 750 million pounds, larger than expected.
“We are also making good progress in returning excess capital to shareholders through our share buyback program,” said David Schwimmer.
For the third quarter, 235 million pounds were returned to shareholders, the operator said.
LSEG bought data firm Refinitiv for $27 billion in 2021, transforming the 300-year-old stock exchange into a major market data player, but outages and money invested in the integration have raised concerns among some investors .
“With sustained execution, a broad business base and market-leading positions, we remain well positioned,” added David Schwimmer.
Thomson Reuters holds a minority stake in LSEG.
(Reporting Huw Jones; French version Elena Vardon, editing by Kate Entringer)