By Will Feuer
S&P Global issued a soft earnings outlook for the current year, despite cutting costs last year.
The New York-based credit-ratings and data provider reported a profit of $579 million, or $1.83 a share, up from $433 million, or $1.33 a share, in the same period a year earlier.
Stripping out one-time items, adjusted earnings were $3.13 a share. Analysts surveyed by FactSet expected $3.15 a share.
Revenue rose 7% to $3.15 billion. Analysts surveyed by FactSet expected $3.13 billion.
The company is targeting 2024 adjusted earnings of $13.75 a share to $14 a share, below the $14.45 a share that analysts expected.
S&P Global is targeting sales growth of 5.5% to 7.5%.
In the fourth quarter, sales rose across all of the company's businesses.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
02-08-24 0742ET