TLDR
- Q2 revenue rose 6% to $3.76 billion, topping estimates
- GAAP EPS of $3.50 missed forecasts, adjusted EPS of $4.43 beat
- Net income increased 6% year-over-year
- Full-year EPS guidance raised to $17.00–$17.25 (adjusted)
- Share buybacks up to $1.3 billion planned in the coming weeks
S&P Global Inc. (NYSE: SPGI) traded at $552.28 midday on July 29, 2025, rising 4.34% after releasing strong Q2 earnings.
The financial data and analytics firm reported a 6% year-over-year increase in revenue, reaching $3.76 billion, beating the consensus estimate of $3.64 billion. However, GAAP diluted EPS came in at $3.50, missing the $3.58 forecast. Adjusted EPS was stronger at $4.43, up 10% year-over-year and exceeding analyst expectations.
S&P Global $SPGI Q2 2025 Report 🗓️
✅ REV: $3.76B (+6% YoY)
✅ EPS: $4.43 (+10% YoY)💵 $SPGI expects to execute additiopnal accelerated share repurchases (ASR) totaling up to $1.3B in the coming weeks
💰Expects 2025 adjusted FCF of $5.6B – $5.8B pic.twitter.com/ZabWomj4fZ
— Dimitry Nakhla | Babylon Capital® (@DimitryNakhla) July 31, 2025
Segment Performance and Revenue Drivers
The Market Intelligence and S&P Dow Jones Indices segments drove much of the revenue growth this quarter. Market Intelligence, which offers data, desktop, and advisory solutions, saw significant traction, while subscription revenue across the board rose 7%. These segments continue to anchor the firm’s long-term strategy and revenue expansion.
Profitability and Margins
GAAP net income increased 6% to $1.07 billion from $1.01 billion in Q2 2024. Adjusted net income was up 7% to $1.36 billion. S&P Global’s operating margins also improved: GAAP margin rose 40 basis points to 41.3%, while the adjusted margin expanded by 70 basis points to 51.4%. The margin expansion reflects the company’s efforts in cost efficiency and strong execution in key business units.
Earnings Date and Financial Guidance
S&P Global released these Q2 results on July 31, 2025. The firm raised its full-year 2025 adjusted EPS guidance to a range of $17.00–$17.25, up from earlier forecasts. GAAP diluted EPS is projected to land between $14.35 and $14.60. Management also expects annual revenue growth of 5% to 7%.
Shareholder Returns and Strategic Initiatives
The company plans to accelerate share repurchases up to $1.3 billion, signaling confidence in its financial position and outlook. It also reaffirmed its intent to proceed with the planned separation of its Mobility division and divestiture of its OSTTRA joint venture, aiming to sharpen focus on core growth areas.
Conclusion
S&P Global’s second quarter performance reflected broad-based strength, particularly in Market Intelligence and Indices. While GAAP EPS slightly missed forecasts, the strong revenue beat and raised guidance reassured investors. Strategic moves like share repurchases and divestitures position SPGI for continued long-term growth.
