The
- Total income up 8.3% on a constant currency basis
- Good growth across all divisions with Data & Analytics growing by 7.3%
- EBITDA margin of 47.2%, slightly below guidance range
"These are solid results from LSE in a difficult environment. Total income came in at the top end of the guidance range with broad based growth across each division, although EBITDA margins were a little lower than expected.
The Refinitiv deal transformed LSE's data capabilities, creating a financial powerhouse to rival Bloomberg. While it appears to be on track, with LSE exceeding its synergy targets, this is a highly complex and expensive integration. It is simply too early for LSE to declare victory.
The real test of whether the Refinitiv merger has delivered on its promise will be whether LSE can accelerate its revenue growth, while improving its profitability. For now the jury is still out."
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