What happened

Weak growth in its latest reported quarter drove down the share price of S&P Global (SPGI 0.18%) on Thursday. The financial information specialist saw its stock lose more than 7% of its value, following the publication of second-quarter results that highlighted relatively uninspiring fundamentals. That decline was far more pronounced than the 0.6% slump of the company's own S&P 500 index.

So what

S&P Global's second quarter saw the company earn just over $3.1 billion in revenue, which was 2% higher on a year-over-year basis. Non-GAAP (adjusted) net income came in at $996 million, or $3.12 per share, against the year-ago profit of $955 million.

Those figures were generally in line with analyst estimates; these anticipated $3.05 billion in revenue for the quarter, and $3.12 for adjusted, per-share net income.

Across the board, S&P Global's growth was generally unimpressive. Of its four revenue sources, the largest, market intelligence, could only muster a 5% revenue increase for the period to nearly $1.08 billion. One bright spot was the mobility division -- this recorded a 10% rise, although it's still a relatively small operation with $369 million in revenue in the second quarter.

Now what

For the entirety of 2023, S&P Global is guiding for 4% to 6% growth in adjusted revenue, putting the total at $11.6 billion to $11.9 billion. Per-share adjusted earnings are forecast to be $12.35 to $12.55. The full-year 2022 earnings-per-adjusted-share figure was $11.19. The company added that it anticipates spending roughly $140 million on capital expenditures in total this year.