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S&P Global (SPGI) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

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S&P Global (SPGI - Free Report) reported $3.89 billion in revenue for the quarter ended September 2025, representing a year-over-year increase of 8.8%. EPS of $4.73 for the same period compares to $3.89 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $3.83 billion, representing a surprise of +1.39%. The company delivered an EPS surprise of +7.5%, with the consensus EPS estimate being $4.40.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how S&P Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Total revenue- Market Intelligence: $1.24 billion compared to the $1.24 billion average estimate based on seven analysts. The reported number represents a change of +6.4% year over year.
  • Total revenue- Ratings: $1.24 billion versus the seven-analyst average estimate of $1.19 billion. The reported number represents a year-over-year change of +11.7%.
  • Total revenue- Commodity Insights: $556 million versus $558.48 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.
  • Total revenue- Mobility: $445 million versus $446.35 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +8% change.
  • Total revenue- Indices: $462 million versus the seven-analyst average estimate of $458.21 million. The reported number represents a year-over-year change of +11.1%.
  • Total revenue- Intersegment Elimination: $-51 million versus the six-analyst average estimate of $-50.34 million. The reported number represents a year-over-year change of +8.5%.
  • Revenue by Type- Indices- Asset Linked Fees: $303 million versus $300.45 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +13.9% change.
  • Revenue by Type- Non-subscription / Transaction: $812 million versus $671.68 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.5% change.
  • Revenue by Type- Non-transaction Revenue: $521 million compared to the $541.11 million average estimate based on four analysts. The reported number represents a change of +11.8% year over year.
  • Revenue by Type- Indices- Subscription revenue: $82 million versus the four-analyst average estimate of $79.29 million. The reported number represents a year-over-year change of +10.8%.
  • Revenue by Type- Indices- Sales Usage-Based Royalties: $77 million compared to the $78.32 million average estimate based on four analysts. The reported number represents a change of +1.3% year over year.
  • Adjusted Operating Profit- Market Intelligence: $440 million versus $405.8 million estimated by six analysts on average.

View all Key Company Metrics for S&P Global here>>>

Shares of S&P Global have returned -1.8% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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