Experian Q3 trading update: double-digit growth and steady guidance
Experian has delivered a solid third quarter. Revenue grew 12% at actual exchange rates, 10% at constant currency (stripping out FX movements), and 8% organically (excluding acquisitions and disposals). Management kept full-year expectations unchanged, pointing to continued momentum and new AI-led opportunities across the business.
In short: broad-based growth, a stable outlook, and visible progress in key product areas like fraud prevention, healthcare, and consumer marketplaces. Here’s what matters and why.
Key numbers at a glance
Quick definitions:
- Constant currency – growth adjusted to remove currency swings.
- Organic revenue – growth excluding the impact of acquisitions and disposals.
- B2B – Business-to-business activities covering Financial Services and Verticals.
| Region | % of Group Revenue | Total growth (actual FX) | Total growth (constant FX) | Organic growth |
|---|---|---|---|---|
| North America | 68% | 11% | 11% | 10% |
| Latin America | 14% | 25% | 15% | 6% |
| UK and Ireland | 11% | 9% | 5% | 3% |
| EMEA and Asia Pacific | 7% | 7% | 4% | 3% |
| Total global | 100% | 12% | 10% | 8% |
Business mix: B2B and Consumer Services
| Segment | % of Group Revenue | Total growth (constant FX) | Organic growth |
|---|---|---|---|
| Financial Services | 52% | 10% | 7% |
| Verticals | 20% | 10% | 7% |
| B2B (Financial Services + Verticals) | 72% | 10% | 7% |
| Consumer Services | 28% | 10% | 10% |
Headline takeaway: consumer is outpacing B2B on organic growth, but B2B still drives nearly three quarters of Group revenue.
North America: the engine room keeps firing
North America, 68% of Group revenue, delivered 10% organic growth and 11% total revenue growth. B2B organic growth was 11%, helped by strong contributions from Clarity, new Cashflow products, and mortgage profiles. Automotive maintained momentum across credit, vehicle history and value recovery, while Health delivered strongly, with growing adoption of Patient Access Curator, Experian’s AI-powered registration platform.
Consumer Services rose 8% organically – exactly as flagged after a Q2 one-time insurance catch-up. Marketplace was the key driver, with growth across credit cards, personal loans and insurance, supported by more lenders joining the Activate capability and broader use of the No Ding Decline feature. Partner Solutions benefited from existing clients and new wins.
Why it matters: the biggest region is growing at a healthy clip across both B2B and consumer, with clear product drivers. That underpins the unchanged full-year outlook.
Latin America: consumer strength, B2B subdued
Latin America posted 6% organic growth and 15% total growth at constant currency, primarily from the ClearSale acquisition. B2B organic growth was flat amid macroeconomic pressure and elevated rates, though Brazil’s fraud prevention and SME propositions remain bright spots. ClearSale integration is progressing, with expanded capabilities, new business wins and planned synergies coming through. Spanish Latin America was helped by proprietary scores and analytics.
Consumer Services shone, up 23% organically. Brazil hit 100 million free members – a significant milestone. Limpa Nome performed strongly, helped by higher volumes at key partners and a successful Limpa Nome fair. Premium subscriptions grew with an expanding membership base, and the credit marketplace saw strong growth as several major partners joined the panel.
Why it matters: consumer momentum is excellent, but the B2B softness is a watch-point. The acquisition is doing its job, lifting total growth, but the organic cadence in B2B needs to improve as macro headwinds ease.
UK and Ireland: modest progress, acquisition adds firepower
UK and Ireland delivered 3% organic growth and 5% total growth at constant currency, helped by the acquisition of KYC360. B2B organic growth was flat, reflecting soft economic activity, though Experian is pushing ahead on strategy with strong Ascend Sandbox growth and multiple proof-of-value trials underway. KYC360 enhances fraud and financial crime compliance capabilities.
Consumer Services rose 14% organically, driven by continued marketplace momentum and the launch of the 1250 score – a new credit score using expanded data to better mirror how lenders assess applications. Growth across credit cards and personal loans was supported by higher engagement and strong conversions.
Why it matters: consumer is carrying the region while B2B awaits a macro uptick. KYC360 broadens the compliance toolkit, which should help B2B over time.
EMEA and Asia Pacific: steady gains despite tough comparatives
EMEA and Asia Pacific delivered 3% organic growth and 4% total growth at constant currency. Growth was strong in Italy, Spain and South East Asia, despite a tough comparable period that included large prior-year software deliveries. Experian continues to roll out proprietary scores and Ascend Platform capabilities into new geographies.
Why it matters: steady, disciplined expansion with platform leverage. Not flashy, but consistent.
What’s driving the story: AI, data scale, and marketplaces
- AI-enabled products – Patient Access Curator in healthcare and the 1250 score in the UK show practical AI use cases gaining traction.
- Scaled data assets – underpin expansion in fraud prevention, compliance, and analytics across regions.
- Marketplace flywheel – consumer marketplaces in North America, the UK and Brazil continue to add partners and convert engaged users.
- Acquisitions contributing – ClearSale and KYC360 support total growth and broaden capabilities, particularly in fraud and compliance.
The investment view: positives and watch-points
- Positives:
- Group growth is broad-based: 12% at actual FX, 10% constant, 8% organic.
- North America B2B is strong at 11% organic, backed by clear product wins.
- Consumer Services organic growth of 10% globally, with standout 23% in Latin America.
- Guidance unchanged – management confidence looks justified by momentum.
- FX added a small tailwind this quarter (12% actual vs 10% constant).
- Watch-points:
- Latin America B2B is flat – macro and rate headwinds still bite.
- UK and Ireland B2B is flat – dependent on economic recovery and enterprise deal cycles.
- Acquisition contribution is material in the quarter – organic B2B needs to re-accelerate in LatAm.
- Tougher comparatives in some regions could constrain reported growth rates.
Outlook and upcoming catalysts
Experian’s full-year expectations are unchanged, supported by continued momentum in North America, strong consumer marketplaces, and AI-enabled product adoption. Integration work on ClearSale and KYC360 is underway and is described as progressing to plan.
Next catalyst: full-year results for the year ending 31 March 2026 are due on Wednesday, 20 May 2026. There is also a conference call today at 9.00am (UK time) to discuss the update, with a recording available later.
Bottom line
This is a clean, confidence-inspiring update: double-digit top-line growth, steady guidance, and clear product traction. The mix is not perfect – UK and Latin America B2B need a better macro backdrop – but the core North American engine and consumer strength in Brazil more than offset it. For investors, the focus now shifts to execution on integrations, sustained marketplace growth, and continued AI-led product adoption into year-end.
