Experian raised its annual outlook Thursday after the world’s largest credit data firm posted a 31% increase in first-quarter revenue, driven by a faster-than-expected recovery as economies emerge from the fallout. COVID-19 pandemic.
The company, which checks people’s credit data and helps lenders manage credit risk, said its credit comparison market was boosted as more consumers applied for credit cards and loans personal under flexible loan criteria. UK-listed Experian said it now expects total revenue growth for the coming year in the range of 13% to 15%, with organic revenue growth of 9 to 11. %. The company had previously predicted that its revenue targets would climb to 11-13% and that its organic growth would increase by 7-9%.
Pre-market indicators set a 3% rise in the blue-chip company’s shares before the market opened. Experian said its customers have resumed acquisition activities in its business-to-business offering in North America, from very low levels in 2020.
The company’s free memberships have reached 44 million. Experian, which makes nearly two-thirds of its revenue in the North American market, said the steady rollout of vaccination has resulted in increased authentication volumes in its healthcare business.
(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)