London Stock Exchange Group plc (LDNXF) Q3 2023 Earnings Call Transcript

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London Stock Exchange Group plc (OTCPK:LDNXF) Q3 2023 Earnings Call Transcript October 19, 2023 5:00 AM ET

Company Participants

Peregrine Riviere – Head of IR

Anna Manz – CFO

David Schwimmer – CEO

Conference Call Participants

Michael Werner – UBS

Hubert Lam – Bank of America

Johannes Thormann – HSBC

Andrew Coombs – Citi

Kyle Voigt – KBW

Ben Bathurst – RBC

Benjamin Goy – Deutsche Bank

Arnaud Giblat – BNP Paribas

Enrico Bolzoni – JPMorgan

Ian White – Autonomous Research

Russell Quelch – Redburn Atlantic

Tom Mills – Jefferies

Peregrine Riviere

Good morning, everyone, and welcome to LSEG’s Third Quarter Update. I’m here with David and Anna. Anna will make some brief opening remarks on our Q3 performance and then we’ll open up to questions on the conference call line.

And with that, let me hand over to Anna.

Anna Manz

Thanks, Peregrine. Good morning. It’s been another good quarter. We’re delivering strong broad-based growth and we’re transforming the business. As we go through the numbers, I’ll focus as usual on constant currency growth.

Total income grew 8%, continuing the trend that we’ve seen in the first half with good contribution from all three divisions. This puts us in good position to deliver growth towards the upper end of the 6% to 8% guidance range. And we remain confident of delivering on all of our other 2023 guidance as well.

Data & Analytics was up 7.2% as stronger sales, better retention and this year’s higher price increase all continued to drive growth. All of our Data & Analytics businesses made a positive contribution to this growth. Trading & Banking revenues were up 2.2% with a similar level of organic growth to the first half. We continue to improve the functionality of our Trading & Banking products with over 200 updates to Workspace so far this year. Enterprise Data grew 9%, supported by continuing strong growth

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