London Stock Exchange Group Reports Q3 Income Growth

LONDON (Reuters) – London Stock Exchange Group (LSEG) announced on Thursday that its income rose by 9.5% in the third quarter compared to the previous year, driven by increased annual subscription value.

LSEG's total income, excluding recoveries, reached £2.12 billion ($2.74 billion) for the three months ending September 30, exceeding analysts' expectations of £2.10 billion.

Annual subscription value (ASV), which indicates recurring revenue, saw a 6% increase during the quarter, with the company anticipating ASV growth to remain around 6% for the remainder of the year.

Despite these gains, LSEG indicated a slight impact from cancellations connected to Swiss bank Credit Suisse during this period.

Earlier this year, LSEG noted that its ASV was affected by UBS's forced acquisition of Credit Suisse last year, which diminished demand for LSEG products, although the complete effect of this deal is yet to unfold.

Reuters provides news for LSEG's news and data Workspace terminal.

($1 = £0.7735)