Tuesday, January 18, 2022

Experian third-quarter earnings rise to N.American power

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FILE PHOTO: The Experian logo is displayed on the smartphone in front of the stock chart shown in this picture taken on December 1, 2021. / Dado Ruvic / Illustration / File Photo

() -The world’s largest credit data firm Experian reported on Friday that its third-quarter revenue rose 14% due to strong demand for its services from consumers and businesses in North America.

Demand for credit reports and scores in Experian’s key markets has been growing since the abolition of coronavirus restrictions, flexible credit criteria and low interest rates, which has helped boost lending and marketing activities by customers.

According to a survey released by the New York Federal Reserve in November, the Irish-based company benefited from U.S. consumers with strong credit demand in 2021, while loan applications rose to 2019 levels. ‘narrowed.

Experian said it expects its annual revenue to grow from 16% to 17%, up from 15% to 17% from the previous forecast. However, the London-listed firm cut its organic earnings forecast for the year due to weakness in European, Middle Eastern and African markets.

Interview with Sinchita Mitra in Bangalore; Edited by Shounak Dasgupta and Sherry Jacob-Phillips

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