S&P Global $SPGI reported first-quarter revenue of $4.171 billion, a 10% increase from the same period a year earlier, driven by double-digit growth in its ratings and indices divisions.

GAAP net income attributable to the company rose 28% year over year to $1.395 billion. GAAP diluted earnings per share came in at $4.69, up 32% from $3.54 a year earlier. Adjusted diluted EPS reached $4.97, a 14% increase.

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The ratings segment posted revenue of $1.302 billion, up 13% year over year, while the indices division recorded the fastest growth among S&P Global $SPGI's five business units, with revenue rising 17% to $519 million. Market Intelligence revenue grew 8% to $1.296 billion. The energy and mobility divisions posted revenue increases of 7% and 8%, respectively.

Adjusted operating profit margin reached 51.8%, an improvement of 100 basis points from the prior-year period. The GAAP operating profit margin expanded 620 basis points to 48.0%.

Subscription revenue increased 6% year over year to $2.014 billion. The company repurchased $1 billion in stock during the quarter.

"We are pleased with the results we achieved in the first quarter, with strong revenue growth and margin expansion in every division, demonstrating our ability to execute and deliver against our strategic vision in an incredibly volatile and challenging operating environment," CEO Martina Cheung said in a statement.

For the full year, S&P Global $SPGI maintained its organic, constant currency revenue growth guidance of 6% to 8% and narrowed its adjusted diluted EPS guidance to a range of $19.40 to $19.65. Reported revenue growth guidance was trimmed by about 30 basis points to a range of 6.3% to 8.3%, a change the company attributed to lower expected tailwinds from foreign exchange.

The company also said it now expects to return 100% or more of adjusted free cash flow to shareholders through dividends and stock repurchases in 2026, up from prior guidance.

S&P Global said it remains on track with the planned separation of its Mobility division. The company also announced April 24 an agreement to divest a geoscience and petroleum engineering software portfolio within its energy division, with the transaction expected to close in the second half of 2026 or early 2027.

Turbulent markets and geopolitical instability have drawn investors to data-driven risk and analytics platforms, a trend that has worked in S&P Global's favor, Reuters reported. Shares gained roughly 1.3% in premarket trading after the results were released.

S&P Global revenue climbs 10% as ratings and indices drive growth

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