Financial Data and Key Metrics Changes - The company reported record adjusted revenue of $1,569 million, a 7% increase year-over-year, and adjusted diluted earnings per share of $1.57, reflecting a 17.2% increase [5][14] - Adjusted consolidated EBITDA reached $619 million, up 9.3%, with a quarterly adjusted consolidated EBITDA margin of 39.5% [5][14] - Cash from operating activities for the nine months ended September 30, 2025, was $1,101 million, a 22% increase over the prior year [6][16] Business Line Data and Key Metrics Changes - The Global Investor and Distribution Services (GIDS) business experienced a 9% revenue growth, while GlobeOp reported a 9.6% revenue growth [5][14] - Financial services recurring revenue growth was 6.7% in Q3 [6] Market Data and Key Metrics Changes - The company noted strength across all alternative markets and capitalized on international opportunities, particularly in Australia and the U.S. [5][6] Company Strategy and Development Direction - The company is focused on intelligent automation and AI as both a revenue opportunity and a means to enhance operational efficiency [11] - Recent acquisitions, including Kural Fund Services and Callistone, are aimed at expanding the company's market presence and capabilities, particularly in the African market and digital assets [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the fourth quarter, expecting continued growth and improved margins, while also acknowledging the competitive landscape [17][19] - The company anticipates revenue for 2025 to be in the range of $6,210 million to $6,250 million, with an organic revenue growth of 4.6% at the midpoint [17][18] Other Important Information - The company returned $305 million to shareholders in Q3, including share repurchases and dividends, and raised its common stock dividend by 8% to $1.8 [7][14] - The company ended Q3 with $388 million in cash and cash equivalents and $6.6 billion in gross debt, resulting in a net leverage ratio of 2.59 times [16] Q&A Session Summary Question: Contribution of Batea to Q4 organic growth - Management expects Batea to contribute approximately $25 million in Q4, up from $16 million in the previous year [22][23] Question: Mechanics behind GIDS organic growth - The organic growth was significantly driven by a large lift out completed in Sydney, Australia, and other successful lift outs [25][27] Question: Attractiveness of CuraFund services deal - The African market is still developing in fund administration, and the acquisition is expected to enhance relationships with large insurers [30][32] Question: Impact of lost business from State Street - Management indicated a small impact on revenue but emphasized that the WIP business will continue to grow [37] Question: Margin outlook with GIDS and GlobeOp growth - The strength of GlobeOp's margins contributed positively, and overall margin improvement is expected to continue [38] Question: Seasonality of Callistone's revenue - Management stated that there is no significant seasonality in Callistone's revenue that would impact growth rates [46] Question: Pipeline for Intralinks and competitive landscape - Early indicators of pipeline improvement were noted, although growth has not yet translated into improved results [48] Question: Confidence in healthcare business growth - Management expressed confidence in the healthcare business, citing strong client relationships and ongoing development efforts [50]