LSEG Says Microsoft Tie-Up to Release Products Within Months [BNN Bloomberg (Canada)]
Microsoft Corporation (MSFT)
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Source: BNN Bloomberg
The market infrastructure and data provider said total income excluding recoveries was £2.09 billion ($2.6 billion) in the first quarter, up 4.1% on a year ago. That compared to £2.1 billion in analyst predictions compiled by Bloomberg. “We have started the year well,” Chief Executive Officer David Schwimmer said in a statement. “We are now picking up the pace of migrating our datasets onto the Microsoft platform, which will transform access to our data for customers.” First-quarter revenue from data and analytics, the group's biggest division, edged up 1% to £999 million. The capital markets unit jumped 11% to £439 million, helped by rates trading. Post-trade income rose 3% to £297 million. In 2022, LSEG agreed to work with Microsoft Corp. on technology projects including the development of artificial intelligence models — a collaboration the London-based firm said will yield either pilots or full releases of new products during the first half of the year. LSEG completed its
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