Experian Backs Fiscal Year 2023 Guidance After 3Q Organic Revenue Grew

By Elena Vardon

Experian PLC said Tuesday that organic revenue grew 6% at constant exchange rates in the third quarter and backed its full-year guidance.

The FTSE 100 credit-reporting agency said total revenue growth at constant exchange rates stood at 7% for the three months ended Dec. 31, and at 4% at actual exchange rates.

The company confirmed its full-year guidance of organic revenue growth of between 7% and 9% and total revenue growth of between 8% and 10%, all at constant exchange rates. Consensus from 11 analysts compiled by the company estimates organic revenue growth for the period to be 7.5%.

Its North American business--which makes up more than two-thirds of its total revenue--had organic revenue growth in the third quarter of 5% at constant exchange rates, it said. Total revenue growth was 5%.

Experian's Latin American business had organic revenue growth of 16% and total revenue growth of 17%.

In the U.K. and Ireland, it had total revenue of 6% and organic revenue growth of 6%, while in Europe, Middle East, and Africa and Asia Pacific, it had total revenue growth of 1% while organic revenue was at 1%.

"While pressures in the global economy are likely to continue for some time, we expect to remain resilient, supported by the delivery of our growth strategy and growth in countercyclical revenue streams," said Chief Executive Brian Cassin.

Write to Elena Vardon at [e-mail]

(END) Dow Jones Newswires

January 17, 2023 02:33 ET (07:33 GMT)

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