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The “earnings season” continues at full speed, with Markit Ltd (NASDAQ:MRKT) adding its voice to the chorus of companies seeing their revenues rise in the third quarter of 2015.
Markit attributed the rise in the third-quarter revenues to successful acquisitions, including the acquisition of DealHub, which was completed in September 2015. DealHub has joined Markit’s Processing division and although the latter saw revenues drop year-on-year in the third quarter of 2015, DealHub’s acquisition partially offset this decrease.
Overall revenue for the third quarter of 2015 increased 2.8% year over year to $277.3 million. In constant currency terms, the revenue growth was 5.6%.
Acquisitions contributed $8.8 million to revenue growth, or 3.3%, associated with the acquisitions in the Solutions segment and the acquisition of DealHub in the Processing segment. The revenue in the Processing segment decreased by 15.1%, to $61.3 million, but the acquisition of DealHub contributed an increase of 1.2% to Processing revenue.
Adjusted EBITDA amounted to $123.5 million in the three months ended September 30, 2015, down 2.6%, from $126.8 million for the three months ended September 30, 2014.
Pre-tax profit for the third quarter of 2015 amounted to $13.2 million, whereas the profit attributable to owners of the parent amounted to $6.7 million.
To view the full press release by Markit on its Q3 2015 metrics, click here.