Experian Revenue Beats Target; Expects Q4 Growth to Ease

Experian Plc posted thirdquarter revenue growth that exceeded its previous target on Tuesday, as the worlds largest credit data firm benefited from strong U.S. mortgage volumes while flagging a slowdown in the current quarter.

Record low interest rates in the United States to reboot the economy hit by the COVID19 pandemic have supported a jump in home sales.

The FTSElisted company, which runs credit score checks for individuals and companies who seek to take out loans, said organic revenue jumped 7 for the three months ended Dec. 31, much higher than its previous target of 35.

It guided to a 35 growth for the final quarter, against a strong 10 growth in JanuaryMarch 2020.

Shares were up 1.1 at 2,710 pence by 0717 GMT.

Growth in Experians biggest market, North America, was 9 for the third quarter. The company vies for market share with U.S. companies Transunion and Equifax.

Experian is performing very well, even in the exceptional circumstances created by the pandemic, and we expect to deliver a strong performance for this financial year, Chief Executive Officer Brian Cassin said.

Reporting by Muvija M and Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich

Source Reuters

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