Experian reported Q3 FY16/17 results slightly below our estimates. The lfl revenue increased by 4.0% (vs Q2: +5.0%, Q1: +5.0%; our estimate: +5.0%), largely driven by strong growth in credit services (+6.0% yoy; c.50% of group revenue) and the decision analytics business (+10.0% yoy; c.13% of group revenue). North America’s organic revenue growth slowed to 3.0% (vs Q2: +5.2%, Q1: +5.0%; our estimate: +5.5%) due to tougher Q3 16 comparables in the consumer services business (Q3: -5.0%, Q
03 May 2017
Strong fundamentals; limited upside in the near-term
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Strong fundamentals; limited upside in the near-term
Experian PLC (EXPN:LON) | 3,162 -1391.5 (-1.4%) | Mkt Cap: 29,048m
- Published:
03 May 2017 -
Author:
Nishant Choudhary -
Pages:
3
Experian reported Q3 FY16/17 results slightly below our estimates. The lfl revenue increased by 4.0% (vs Q2: +5.0%, Q1: +5.0%; our estimate: +5.0%), largely driven by strong growth in credit services (+6.0% yoy; c.50% of group revenue) and the decision analytics business (+10.0% yoy; c.13% of group revenue). North America’s organic revenue growth slowed to 3.0% (vs Q2: +5.2%, Q1: +5.0%; our estimate: +5.5%) due to tougher Q3 16 comparables in the consumer services business (Q3: -5.0%, Q