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S&P Global Q4 revenue decreased 3%

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Staff Writer |
Standard Poors
S&P Global   On an organic basis, fourth quarter revenue decreased 4

S&P Global reported fourth quarter and full-year 2018 results.

The Company reported fourth quarter 2018 revenue of $1.54 billion, a decrease of 3% compared to the same period last year as a decline in Ratings revenue, primarily resulting from a decline in global debt issuance, offset revenue increases in the Company's other three businesses.

On an organic basis, fourth quarter revenue decreased 4%.

Fourth quarter net income increased 95% to $512 million and diluted earnings per share increased 99% to $2.03.

Both increased due to a charge associated with U.S. tax reform included in the prior year quarter as well as productivity improvements and a lower effective tax rate as a result of U.S. tax reform impacting the current quarter.

Adjusted net income for the fourth quarter increased 18% to $559 million due to productivity improvements and a lower effective tax rate as a result of U.S. tax reform.

Adjusted diluted earnings per share increased 20% to $2.22 aided by a 2% reduction in diluted shares outstanding.

Pre-tax adjustments in the fourth quarter of 2018 totaled $62 million and included deal-related amortization, restructuring charges, Kensho retention-related expenses, and a pension accounting adjustment.

For the full year, revenue increased 3% to $6.26 billion. 2018 net income increased 31% to $1.96 billion and diluted earnings per share increased 34% to $7.73.

2018 adjusted net income increased 21% to $2.15 billion and adjusted diluted earnings per share increased 23% to $8.50.


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