By Experian, the leading consumer-credit reporting agency, announced robust revenue growth for the first quarter of fiscal 2024, in line with the company’s expectations. Revenue for the three months ended June 3 saw a 5% increase compared to the same period last year, with organic revenue also rising by 5%.
In the U.K. and Ireland, which account for 12% of Experian’s total revenue, actual exchange rates resulted in a 1% growth. However, organic revenue in the consumer services division experienced a 2% decline due to supply contraction in the credit marketplace and lower premium subscription revenue.
North America, responsible for 67% of Experian’s revenue, delivered a solid 4% growth, while Latin America reported an impressive 12% growth, contributing 15% to the company’s overall revenue. EMEA/Asia also showed positive growth of 5%, accounting for 6% of Experian’s total revenue.
CEO Brian Cassin expressed confidence in the company’s future performance, stating, “Our growth expectations for the full year remain unchanged as we benefit from the strength and diversity of our business. We anticipate organic revenue growth between 4% to 6% and anticipate modest margin accretion, all consistently at constant exchange rates.”
Experian continues to position itself as a robust and reliable player in the consumer-credit industry, reinforcing its commitment to delivering consistent growth and maintaining its market leadership.
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