Proactive Investors - FTSE 100-listed London Stock Exchange Group PLC (LON:LSEG) smashed expectations in the third quarter, with revenue growth penned across all segments.
Capital markets was the star segment with a 22.4% rise in sales, bringing in £468 million.
This increase was driven primarily by Tradeweb, LSEG's electronic trading platform for electronic marketplaces for fixed income, ETFs, and derivatives, which saw robust activity in all of these sections.
LSEG also expanded its share of US investment-grade and high-yield trading.
The group’s largest division, data and analytics (which has undergone a restructuring in how it’s reported), was weaker, adding 4.6% to £992 million.
Nonetheless, total revenue across the whole group on an organic, constant-currency basis increased by 8.7% to £2.12 billion, surpassing prior forecasts from Deutsche Bank (ETR:DBKGn).
"We are executing successfully on our strategy, delivering multiple new products in Q3,” stated chief executive David Schwimmer. “The ongoing transformation of our business with faster product innovation and more powerful solutions is driving higher user engagement and better outcomes for our customers.
“Our partnership with Microsoft (NASDAQ:MSFT) continues to make strong progress and our product timetable is on track.”
LSEG’s 10-year Microsoft partnership, which entails sharing cloud-computing, analytics and data sharing, has previously led to bullish upgrades from City analysts