Experian plc (IE00B19NLV48) announced solid growth in its consumer and commercial divisions for the fiscal year ending September 30, 2023. The data and analytics firm reported a revenue increase of 12% year-over-year, attributed to heightened demand for its services across various markets.

“Experian remains committed to delivering high-quality data solutions that meet the evolving needs of our clients,” said CEO Brian Cassin during a conference call. The company highlighted significant advancements in technology and a broader customer base as key drivers of its performance.

Experian’s consumer services segment showed impressive growth, with a 15% rise in revenue. This was largely fueled by increased enrollment in credit monitoring services and identity theft protection.

The commercial sector also experienced a robust performance, with a 10% increase in revenue. The firm cited strong demand from businesses seeking data analytics and credit risk management solutions as contributing factors.

In addition to revenue growth, Experian reported an increase in net profit to $1.3 billion for the fiscal year. The company’s strong financial position will support its ongoing investments in innovation and market expansion.

Founded in 1980, Experian is recognized as one of the largest credit reporting agencies in the world. It provides businesses and consumers with a variety of data-related services, playing a crucial role in the financial ecosystem by helping clients manage risk and enhance decision-making capabilities.

Source: news source