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Experian first-quarter revenue rises on robust credit demand
Global Banking & Finance Review®
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(Reuters) -Experian reported higher first-quarter total revenue on Thursday, as the world’s largest credit data firm benefited from a robust demand in demand and supply of credit, mainly in North America.
(Reuters) -Experian reported higher first-quarter total revenue on Thursday, as the world’s largest credit data firm benefited from a robust demand in demand and supply of credit, mainly in North America.
While overall demand for credit reports and scores is rising as the global economy emerges from the pandemic, the company now has to battle a fall in consumer spending across Experian’s main markets — North America and the UK.
The company, which lets 122 million people their credit scores and eligibility, posted a 7% increase in organic revenue from North America for the quarter ended June 30, while flagging a fall in demand for mortgage credit.
The data firm also saw robust demand in its consumer services unit, and reiterated its full-year organic revenue outlook of 7-9% rise for the whole group.
(Reporting by Sinchita Mitra in Bengaluru; Editing by Amy Caren Daniel and Rashmi Aich)
Organic revenue refers to the income generated from a company's existing operations, excluding any revenue from acquisitions or mergers.
A credit report is a detailed account of an individual's credit history, including credit accounts, payment history, and outstanding debts.
Consumer spending is the total amount of money spent by households on goods and services in a specific period.
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