About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Interactive Data Confirms Financial Results for Q3 2008

Subscribe to our newsletter

Following the announcement of its preliminary results last week, Interactive Data Corporation has confirmed that its revenue for the third quarter of 2008 increased 7.7% to US$188.6 million from US$175.0 million in the same period last year. The vendor’s financial results for the third quarter ended 30 September 2008 also confirm that net income for the third quarter of 2008 was US$36.7 million, or US$0.38 per diluted share, a 6.7% decrease over net income of US$39.3 million, or US$0.40 per diluted share, in the third quarter of 2007.

Income from operations grew 12.2% to US$53.7 million in the third quarter of 2008 from US$47.9 million in the same period one year ago.

Stuart Clark, president and CEO of Interactive Data, says: “Our third quarter 2008 performance was in line with the preliminary results we announced last week. We produced organic revenue growth of 7.6% primarily as a result of sustained expansion at our Pricing and Reference Data business, as well as a good performance at our Real-Time Services business. Our success in driving revenue growth, while prudently managing our cost base, led to a 12.2% increase in income from operations.”

He continues: “Despite the increase in operating profitability, our net income for the quarter declined as a result of a significant increase in our effective quarterly tax rate. Despite challenging market conditions, we are encouraged by the fact that we produced positive net new business in all three months of the third quarter at levels that were generally in line with or better than our expectations entering the quarter.”

The vendor sustained renewal rates across its institutional business of approximately 95%, which Clark says reflects its client relationships. Andrew Hajducky, Interactive Data’s executive vice president and chief financial officer, adds: “As a result of our strong distribution channels, Interactive Data’s customer base remains extremely diversified with no single direct customer representing more than five percent of total revenue. After yet another quarter of outstanding cash generation, we move forward with the strong financial position required to fund internal development activities and pursue strategic acquisitions in ways that will further expand our business. At the same time, we intend to continue returning cash to shareholders through our stock buyback and dividend programmes.”

Clark concludes: “We will continue managing the business prudently as we carefully monitor our discretionary spending while making important investments in programmes that we believe will help drive future growth and bring tangible value to customers, business partners and shareholders. We believe we have the technical, intellectual and financial resources required to continue expanding our business through a combination of organic growth and strategic acquisitions.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Unlocking Transparency in Private Markets: Data-Driven Strategies in Asset Management

15 October 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes As asset managers continue to increase their allocations in private assets, the demand for greater transparency, risk oversight, and operational efficiency is growing rapidly. Managing private markets data presents its own set of unique challenges due to a lack of transparency,...

BLOG

Regulatory Volatility Offers Opportunity to Mine Value from Compliance Data

A new era of regulatory change is presenting institutions with a golden opportunity to prosper from the troves of data they need to comply with reporting obligations. Information required by market overseers has value that goes beyond its obligatory use in disclosures and companies that put it to wider use stand to gain a competitive...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...