NEW YORK: Bloomberg LP has released additional tools and analytics for investor relations professionals in an expansion of the company's financial data platform.
The IR offering launched on Tuesday is part of the Bloomberg Professional service, commonly called the Bloomberg terminal. It provides financial information to 315,000 subscribers globally.
With the release, IR and corporate communications executives can view financial data, news, research, and analytics in one place, customized to their company's needs. The offering also provides information about peers, such as news coverage and analyst ratings, to contextualize company performance, shareholder activity, and industry trends.
“As an IR person, you can see the exact same information about your company that your investors and analysts are looking at. It gives you that critical context,” said Drew Jones, global business manager for corporations, investment banking, and private equity at Bloomberg. “IR is a relatively new area for us but an important part of that ecosystem.”
The new IR tools are available to Bloomberg Professional subscribers at no additional cost. While Bloomberg does not publicly release information about terminal pricing, media outlets have reported subscriptions cost more than $20,000 per year.
The platform is also accessible on mobile and tablet devices.
Last month, Bloomberg was criticized after revelations that its news division used the financial data terminals to monitor subscribers' log-on activity. After Bloomberg client Goldman Sachs complained, the company shut newsroom access to the terminal.
Bloomberg spokesperson Ty Trippet told The New York Times earlier this month that while management encouraged the use of terminal data in reporting, the company did not condone accessing confidential customer information.