Experian, the world’s largest credit data company, announced a 14% increase in quarterly revenue, largely due to strong demand for its consumer services and operations in North America.
Demand for credit reports and ratings has grown in the key markets in which Experian operates, following the removal of coronavirus restrictions, flexible lending criteria and low interest rates that have helped revitalize lending and marketing activities by customers.
The Irish company benefited from the strong credit demand shown by American consumers in 2021, while credit applications as a whole recovered to 2019 levels.
Experian stressed that it expects annual revenues to increase by about 16% -17%, higher than the initial estimates for an increase of 15% -17%.
The London-based company, however, narrowed its forecast for organic revenue for the year, mainly due to weakening markets in Europe, the Middle East and Africa.
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Source From: Capital
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