By Jeff Patterson
Markit Ltd (O:MRKT), a global provider of financial information services, has reported its Q4 2015 financial metrics ending December 31, 2015 – the group saw a rise across key metrics, including its revenues, securing a QoQ growth to close out the fiscal year, according to a Markit statement.
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For Q4 2015, Markit saw its revenues climb to $291.5 million, up 5.1% QoQ from $277.3 million in Q3 2015. Over a yearly basis, Markit also saw rising revenues, which climbed 7.4% YoY from $271.4 million in Q4 2014.
In addition, the group saw operating expenses come in at $155.4 million in Q4 2015, reflective of a 3.8% growth QoQ from just $149.7 million in Q3 2015. By extension, Markit’s operating expenses in Q4 2015 also increased 11.4% YoY from $139.5 million in Q4 2014. The climb in operating expenses was attributed to acquisitions and recurring investments in new initiatives. Finally, Markit’s adjusted EBITDA was reported at $131.8 million for Q4 2015, up 6.7% QoQ from $123.5 million in Q3 2015 and 5.7% YoY from $124.7 million in Q4 2014.
Earlier this month, Markit made headlines after it acquired JPMorgan’s systems integration software and syndicated loan technology for use across both the buy and sell sides. In particular, the acquired software technology from JPMorgan (N:JPM) will help streamline third party connectivity issues for market participants, ultimately shortening loan settlement timeframes and facilitating straight through processing (STP) of loan transactions.