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Trading infrastructure and financial information services provider Interactive Data last night announced its financial results for the third quarter of 2014, with the overall picture being positive in the face of a challenging market environment.
The numbers show that revenues for the three months until the end of September 2014 amounted to $233.5 million, marking an increase of 4.1% from the $224.3 million recorded in the equivalent period in 2013. Stripping out effects of changes in foreign exchange rates, the annual organic growth for the quarter was 2.8%.
Income numbers showed a more pronounced rise: the group said its income from operations amounted to $58.1 million in the third quarter of 2014, up by massive 41% from $41.2 million registered in the third quarter of 2013. Non-GAAP adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) also brought a positive piece of news, rising to $93.5 million in the three months to the end of September 2014, compared with $88.5 million in the same period a year earlier.
Commenting on the robust figures, Interactive Data’s president and chief executive Stephen Daffron highlighted the continued growth in revenues despite challenging market conditions. He noted the strong growth in the Pricing and Reference Data segment, as well as the expansion within the 7ticks trading infrastructure. For that matter we may recall the recently announced partnership between Interactive Data and SIX Swiss Exchange (https://leaprate.com/2014/09/interactive-data-enables-direct-market-access-to-six-swiss-exchange/), which enables the institutional clients of 7ticks to benefit fully from the superior platform and execution at SIX.
The group also reported financial metrics for the first nine months of 2014. Revenues were once again robust, reaching $699.9 million in the period until the end of September 2014, up by 4.0% from $672.9 million in the equivalent period last year. Income from operations for the nine-month period, however, dropped to $126.9 million from the $134.2 million seen a year ago.
The detailed press release on Interactive Data’s third-quarter financial results can be downloaded here