Why S&P Global Stock Was Tumbling on Tuesday
Investors were under the impression that the company had missed on second-quarter earnings.
Overview
Any time the shares of S&P Global (NYSE: SPGI) are doing worse than the bellwether index the company manages, the S&P 500 index, you know its latest news hasn't been taken positively.
Tuesday morning, S&P Global took the wraps off its latest quarterly earnings report, and there was some confusion about the bottom-line number. In late-session trading, the stock was down by more than 3%, a steeper fall than the S&P 500 index's 0.3% slump at that point.
Details
For its second quarter, S&P Global posted revenue of nearly $4.15 billion, up 10% year-over-year. It also topped the consensus analyst estimate of $4.09 billion.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.