(Adds more detail in paragraph 2-3, 4)
LONDON, Aug 3 (Reuters) - London Stock Exchange Group reported first-half total income of 4.179 billion pounds ($5.31 billion) on Thursday, up 11.9% from a year earlier, saying revenue growth for the year is expected to be near the top end of its 6-8% guidance range.
LSEG said first-half growth in data and analytics, which makes up the bulk of its income, was 7.6%, but basic earnings per share fell 21.2% to 77.2 pence, hit by a higher effective tax rate.
Profit before tax was down 17.6% at 662 million pounds, and dividends per share rose 12.6% to 35.7 pence.
"Data & Analytics is growing faster than it has for many years, with the ongoing improvements to our offering and strengthened customer relationships increasingly reflected in financial performance," Chief Executive David Schwimmer said in an earnings statement.
LSEG said in December 2022 that
Microsoft would buy a 4%
stake worth $2 billion in the group, making available the exchange's data and analytics through Microsoft Teams for those customers who want it.
"We are progressing well with the implementation phase of our transformational strategic partnership with Microsoft, with customers beginning to see the benefits from next year."
($1 = 0.7871 pounds) (Reporting by Huw Jones, Editing by Bernadette Baum)
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August 03, 2023 at 01:25PM
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UPDATE 1-London Stock Exchange Group reports higher first-half income - Yahoo Finance
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