2023-07-25 09:31:10 ET
MSCI ( NYSE: MSCI ) delivered Q2 earnings and revenue, reported on Tuesday, that topped Wall Street expectations and rose sequentially and Y/Y.
Q2 adjusted EPS of $3.26, exceeding the $3.11 average analyst estimate, advanced from $3.14 in Q1 and from $2.78 in the year-earlier period.
Operating revenues of $621.2M, vs. $602.9M consensus, accelerated from $592.2M in Q1 and from $551.8M in Q2 of last year.
Shares of the index provider gained 1% out of the gate.
“MSCI delivered another solid performance in a fluid market environment, posting 17.3% Adjusted EPS growth, 11.3% organic subscription Run Rate growth and a retention rate of 95.5%," said Chairman and CEO Henry A. Fernandez.
"We achieved record second-quarter sales results for Index and near-record net new sales results in Analytics, along with 70.4% Climate Run Rate growth across our product lines,” he added.
Total operating expenses came in at $275.2M, compared with $277.6M in Q1 and $251.4M in Q2 2022.
Adjusted EBITDA rose to $377.3M from $344.7M in Q1 and from $331.1M a year before. Adjusted EBITDA margin of 60.7% vs. 58.2% in Q1 and 60.0% in Q2 2022.
Earlier on Tuesday, MSCI ( MSCI ) declared a quarterly dividend of $1.38 a share, in line with the previous payout.
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MSCI Q2 top and bottom lines beat, rise Q/Q and Y/Y