S&P Global Inc (NYSE:SPGI) stock slid on Tuesday despite disclosing adjusted earnings of $4.83 per share for the second quarter—a 23% increase from the previous year—and topping analysts’ expectations of $4.76.
The quarterly revenue rose 10% year over year to $4.15 billion, also ahead of the consensus estimate of $3.85 billion.
The quarterly adjusted operating profit margin increased 200 basis points to 54.3%, driven primarily by growth and margin expansion in the company's Ratings, Indices, and Market Intelligence divisions.
At the end of the quarter, the company’s cash, cash equivalents, and restricted cash totaled $4.14 billion.
The company has returned $1.5 billion to shareholders through share repurchases year-to-date.
