TransUnion (NYSE:TRU) smashes Q2 forecasts with 8% revenue growth
Full story: https://grafa.com/news/transunion--nyse-tru--smashes-q2-forecasts-with-8--revenue-growth-251498
TransUnion (NYSE:TRU) today unveiled its financial results for the quarter ended June 30, 2024, demonstrating significant growth.
The credit reporting giant posted a total revenue of $1,041 million, marking an 8 percent increase from the same quarter in 2023, with the gains consistent even on a constant currency basis.
Net income for the quarter stood at $85 million, a robust rise from the $54 million reported in the second quarter of the previous year.
This growth translated into a diluted earnings per share of $0.44, up from $0.28 in 2023, with a net income margin that expanded to 8.2 percent from 5.6 percent.
The company also reported a rise in adjusted net income, which reached $193 million, up from $166 million in the prior-year quarter.
While the company's adjusted diluted earnings per share increased to $0.99 from $0.86, its adjusted EBITDA for the quarter was $377 million, compared to $339 million in the second quarter of 2023.
During the quarter, the company's cash and cash equivalents stood at $543 million as of June 30, 2024, up from $476 million at the end of 2023.
Meanwhile, cash flow from operating activities for the first half of the year also saw a positive move, reaching $349 million compared to $293 million in the same period last year.
In light of these strong results, TransUnion has revised its 2024 financial outlook upwards, now anticipating 7-8% revenue growth for the year.
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