Credit data firm Experian's revenue rises on resilient demand
Reuters
Published Jan 16, 2024 02:15AM ET
Updated Jan 16, 2024 02:35AM ET
(Reuters) -Credit data firm Experian (OTC:EXPGF) posted a 9% rise in third-quarter revenue on Tuesday, powered by strong demand for its new products and business wins, especially in the Latin America region.
Experian's key customers include banks, non-traditional lenders and insurance providers, which use its credit reports and scores to analyse and make decisions around credit risk, fraud prevention and lending terms for their clients.
To offset weak spots in the lending market across the U.S. and the UK, the company has been focusing on growing its Latin America business and offering new data sets and analysis tools.
For the three months ended Dec. 31, organic revenue from Latin America grew 13%, Experian said.
The company also now expects its annual organic revenue to grow between 5% and 6% at constant exchange rates, compared to an earlier forecast of 4%-6% growth.
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Written By: Reuters
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