S&P Global Inc. (SPGI) on Tuesday reported improved profit for the fourth quarter, mainly driven by growth in revenue. However, the company's shares are trading down more than 12% in pre-market.
Net income attributable to S&P Global climbed to $1.134 billion or $3.75 per share from $880 million or $2.85 per share a year earlier. Excluding one-time items, adjusted earnings were $1.299 billion or $4.30 per share.
The company also recorded a significant net gain on dispositions of $270 million, compared with $38 million in the prior year.
Operating profit surged 28% year-on-year to $1.674 billion.
Revenue rose 9% to $3.916 billion from $3.592 billion in the previous year.
The board has declared a quarterly dividend of $0.97 per share.
For the full year, the company expects revenue to grow 6%-8% on an organic, constant currency basis. Adjusted EPS is expected between $19.40 and $19.65.
S&P Global stock closed at $444.19 on Monday, up 1.12%.
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