Experian 1Q Total Revenue Rose; Backs Fiscal Year 2024 Guidance
July 13 2023 - 2:49AM
Dow Jones News
By Anthony O. Goriainoff
Experian said Thursday that revenue for the first quarter of
fiscal 2024 rose and was in line with the board's expectations, and
backed its guidance for the year.
The London-listed consumer-credit reporting agency said total
revenue at constant exchange rates for the three months ended June
3 rose 5% when compared with the year-earlier period, with organic
revenue also increasing 5%.
In the U.K. and Ireland, which make up 12% of group revenue,
total revenue at actual exchange rates rose 1%. The company said
organic revenue in the consumer services division fell 2% and
reflected the impact of supply contraction in its credit
marketplace as well as lower premium subscription revenue.
North America--which makes up 67% of group revenue--delivered
growth of 4%, while Latin America--which makes up 15% of
revenue--delivered 12% growth. EMEA/Asia grew 5%, making up 6% of
group revenue.
"Our growth expectations for the full year are unchanged
reflecting the strength and diversity of our business. We continue
to expect organic revenue growth of between 4% to 6% and modest
margin accretion, all at constant exchange rates and on an ongoing
basis," Chief Executive Brian Cassin said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 13, 2023 02:34 ET (06:34 GMT)
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