Why S&P Global Stock Got Thrashed on Thursday
Weak growth in its latest reported quarter drove down the share price of S&P Global (NYSE: SPGI) on Thursday. The financial information specialist saw its stock lose more than 7% of its value, following the publication of second-quarter results that highlighted relatively uninspiring fundamentals. That decline was far more pronounced than the 0.6% slump of the company's own S&P 500 index.
S&P Global's second quarter saw the company earn just over $3.1 billion in revenue, which was 2% higher on a year-over-year basis. Non-GAAP (adjusted) net income came in at $996 million, or $3.12 per share, against the year-ago profit of $955 million.
Those figures were generally in line with analyst estimates; these anticipated $3.05 billion in revenue for the quarter, and $3.12 for adjusted, per-share net income.
Source Fool.com
