IHS Markit (NYSE: INFO) saw its shares enjoy solid gains in the first hour of trading Tuesday, on the release of second-quarter financial figures.
The London-based HIS, a world leader in critical information, analytics and solutions, today reported revenue of $1.027 billion, including total organic revenue growth of negative 7%, or negative 3% adjusted for the events cancellation
Net income was $71 million and diluted earnings per share (EPS) of $0.18. Adjusted EBITDA of $454 million and Adjusted earnings per diluted share (Adjusted EPS) of $0.69. Cash flow from operations of $278 million and free cash flow of $209 million.
Second-quarter revenue for Financial Services increased $11 million, or 2%, to $444 million, and included 3% total organic growth. Second quarter Adjusted EBITDA for Financial Services increased $26 million, or 13% to $231 million.
Second-quarter revenue for Transportation decreased $75 million, or 24%, to $243 million, and included negative 18 percent total organic growth. Second-quarter Adjusted EBITDA for Transportation decreased $35 million, or 26%, to $102 million.
Second-quarter revenue for resources decreased $30 million, or 12%, to $219 million, and included negative 14% total organic growth. Second quarter Adjusted EBITDA for Resources decreased $13 million, or 12%, to $96 million
According to CEO Lance Uggla, "Q2 was a challenging quarter due to the COVID-19 pandemic, but I am very pleased with how the organization responded and how we are positioned to deliver strong results in 2020 and beyond."
IHS shares popped $1.26, or 1.7%, to $74.50.
