Experian third-quarter revenue rises on N.America strength

Written by on January 14, 2022

January 14, 2022

(Reuters) – Experian, the world’s largest credit data firm, reported on Friday a 14% jump in its third-quarter revenue, fuelled by robust demand for its services to consumers and businesses in North America.

Demand for credit reports and scores has been rising in Experian’s main markets following the lifting of coronavirus restrictions, flexible lending criteria and low interest rates that have helped revive lending and marketing activities by clients.

The Ireland-based company benefited from U.S. consumers showing strong demand for credit in 2021, while applications for credit overall rebounded to 2019 levels, according to a survey released by the New York Federal Reserve November.

Experian said it is expecting its annual revenue to grow between 16% and 17%, above an earlier forecast of a 15% to 17% jump. The London-listed firm, however, narrowed its organic revenue forecast for the year, dented by weakness in its Europe, Middle East and Africa markets.

(Reporting by Sinchita Mitra in Bengaluru; Editing by Shounak Dasgupta and Sherry Jacob-Phillips)

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