How did SPGI's Q4 earnings surprise investors?

S&P Global Inc. (SPGI) delivered a strong Q4 performance that surpassed investor expectations, as reflected in several key metrics: 1. **Revenue Outperformance**: The company's total revenue for the quarter was $3.59 billion, surpassing the estimated revenue of $3.43 billion. This indicates a robust business growth and operational efficiency. 2. **Earnings Per Share (EPS) Beat**: S&P Global reported an EPS of $3.36 for the estimated quarter, whereas the actual EPS was $3.89, marking a significant upside surprise. This reflects strong profitability and returns for shareholders. 3. **Margin Expansion**: The company achieved a margin expansion of 450 basis points year-over-year, showcasing improved operational efficiency and cost management. 4. **Dividend and Buyback Activity**: The company's commitment to returning value to shareholders through dividends and share buybacks further highlights its strong financial health and confidence in its future prospects. 5. **Analyst Ratings and Price Target Increases**: Analysts have responded positively, with Stifel raising the stock price target to $560, maintaining a "Buy" rating, indicating sustained confidence in the company's growth prospects. Overall, S&P Global's Q4 earnings report demonstrated robust growth across various financial metrics, leading to a positive surprise for investors.