Interactive Data preannounces lower 3Q profit

Interactive Data Corp., a Bedford-based provider of financial data, today preannounced lower third-quarter profit.

For the quarter ended Sept. 30, IDC reported preliminary income of $36.7 million, or 38 cents per share, compared with $39.3 million, or 40 cents per share, in the same quarter a year ago.

The company preannounced 12 percent growth in operating income to $53.7 million. The company estimated an 8 percent increase in revenue to $188.6 million.

Analysts projected profit of 34 cents per share, according to a Thomson Reuters survey.

IDC said it generated net new business in each of the quarter's three months. It said it expects to continue serving its clients that are involved in mergers and acquisitions.

Several major financial services firms, including investment bank Bear Stearns, have either been bought or taken over by the government. (AP)