IHS Markit (NYSE: INFO) saw its shares head for the raftersTuesday, on reporting results for the first quarter.
Revenue came in at $1.081 billion, including total organic revenue growth of 6%. Net income was $484 million. Diluted earnings per share (EPS) were $1.20. Adjusted EBITDA were $432 million and adjusted earnings per diluted share were $0.66. Cash flow from operations of $120 million and free cash flow of $117 million.
"We have analyzed the changing dynamics within our markets, developed a strong plan, and are taking decisive cost action while making room for investment to deliver double-digit earnings growth this year and over the coming years, under multiple revenue scenarios,” said Lance Uggla, chairman and chief executive officer at IHS Markit.
The London-based IHS is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide.
The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions
INFO shares climbed $10.46, or 23%, to $56.02.
