Markit Releases Third Quarter Operating Figures, Revenues Swell 13.1% Year-over-Year

Global provider of financial information services, Markit Ltd. (NASDAQ:MRKT), has released its third quarter operating metrics, highlighting a 13.1% year-over-year increase in revenues.

Markit released a report last month that showed rising earnings that exceeded expectations and instigated a 5% rise in share prices. At the time of writing, MRKT prices were trading at $24.92 per share, down 0.03% on the report’s release.

Third Quarter Operating Metrics

Markit’s consolidated income statement for the three months ending September 30, 2014, revealed revenues of $269.7 million, a 13.1% jump from $238.4 million during the same three months ending September 30, 2013.

In addition, operating profits swelled to $95.3 million during Q3 2014, compared to just $53.6 million in Q3 2013 (77.8% rise). Basic earnings per share also nearly tripled to $0.45 per share during Q3 2014, up from $0.18 in Q3 2013.

In terms of assets, total non-current assets, which consolidates property, plant and equipment, intangible assets, deferred income tax assets, and derivative financial instrument, assets came in at $3,108.1 million in Q3 2014. This constituted the vast majority of Markit’s $3,479.0 million in assets overall, with $370.9 million in current assets.

Third Quarter Developments

Q3 of 2014 saw several developments for Markit’s global business, which included the closure of its OTC derivative pre-trade credit checking platform Credit Centre on October 9, 2014.

Moreover, on July 1, 2014, the company also completed the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of a majority shareholding in Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term Technologies International LLP. Finally, back in July 1, 2014, Markit also completed the sale of Markit Trade Reporting (“BOAT”) to Cinnober Financial Technology.