SPGI · 10-Q · 2026Q3 · Full report

Revenue Performance and Mix

S&P Global Inc. · 2026-10-28 · Importance 49 · Surprise 32 · From source text

For the nine months ended September 30, 2026, continuing-operations revenue increased 9% to $11.074 billion from $10.117 billion; third-quarter revenue rose 7% to $3.678 billion from $3.443 billion. Nine-month growth reflected higher revenue in all four segments, including Ratings revenue growth from $3.408 billion to $3.773 billion, Indices from $1.344 billion to $1.597 billion, Energy from $1.896 billion to $1.992 billion, and Market Intelligence from $3.469 billion to $3.712 billion. Ratings’ third-quarter transaction revenue benefited from strong investment-grade corporate bond issuance, while Indices benefited from higher ETF and mutual-fund assets under management and Energy from expanded product offerings under enterprise use contracts. Market Intelligence growth included With Intelligence, acquired in November 2025, and was partly offset by the January 2026 dispositions of Enterprise Data Management and thinkFolio; foreign exchange reduced third-quarter revenue growth by less than one percentage point.

Key facts

• S&P Global Inc. revenue for the three months ended September 30, 2026 was $3,678 million, compared with $3,443 million in 2025; nine-month revenue was $11,074 million, compared with $10,117 million in 2025. source
• S&P Global Inc. recognized $3.6 billion of revenue during the first nine months of 2026 that had been included in unearned revenue at the beginning of the period. source
• Energy revenue was favorably impacted by the DatacenterHawk acquisition in September 2026, Enertel AI Corporation acquisition in March 2026 and AIS data services acquisition in November 2025. source
• The sale of Energy's geoscience and petroleum engineering software portfolio unfavorably impacted Energy revenue. source
• Energy revenue increased 6% in the third quarter of 2026, primarily on demand for market data and market insights products and expanded offerings under enterprise use contracts. source
• Energy revenue increased 5% in the first nine months of 2026, primarily due to demand for market data and market insights products and expanded enterprise use offerings. source
• Q3 2026 revenue increased 7%, driven by increases in all reportable segments. source
• Consolidated revenue increased 9% for the nine months ended September 30, 2026, driven by increases at all reportable segments. source

Impact estimates