Credit data firm Experian raises annual outlook after strong quarter

(Reuters) -Experian raised its annual outlook on Thursday after the world's largest credit data company posted a 31% jump in its first-quarter revenue, driven by a faster-than-expected recovery as economies emerge from the fallout of the COVID-19 pandemic.

The company, which runs credit data checks for people and assists lenders in managing credit risks, said its credit comparison marketplace got a boost as more consumers applied for credit cards and personal loans amid flexible lending criteria.

UK-listed Experian said it now expects total revenue growth for the year to come in the range of 13% to 15%, with organic revenue growth seen at 9-11%. The company previously forecasted its revenue targets to climb up to 11-13% and organic growth to rise 7-9%.

Premarket indicators pegged a 3% rise in the shares of the blue-chip company ahead of the market's open.

Experian said its clients have resumed acquisition activity in its business-to-business offering in North America, compared with very low levels in the crisis-hit 2020.

The company's free memberships reached 44 million.

Experian, which makes nearly two-thirds of its revenue from the North American market, said steady vaccination rollouts led to an uplift in authentication volumes in its health business.

(Reporting by Muvija M in Bengaluru, Editing by Sherry Jacob-Phillips)