MSCI Q2 Adj. EPS Beats Estimate, Revenue Misses View - Quick Facts

(RTTNews) - MSCI Inc. (MSCI) reported lower profit for the second quarter, but adjusted earnings rose from last year, and surpassed analysts' estimates. Operating revenues grew 6.2%, but missed the Wall Street analysts' view.

Second-quarter net income was $115.1 million or $1.36 per share compared to $125.7 million or $1.47 per share last year. Adjusted earnings rose to $1.77 per share from $1.54 per share in the previous year.

Operating revenues increased 6.2% to $409.6 million from $385.6 million generated a year ago.

Analysts polled by Thomson Reuters expected earnings of $1.67 per share on revenue of $410.52 million for the quarter. Analysts' estimate typically exclude certain special items.

"MSCI delivered solid results in the second quarter despite the ongoing challenging macroeconomic environment. I am especially pleased with our ability to drive double-digit new recurring subscription sales growth and our focused execution of MSCI's long-term growth strategy," said Henry Fernandez, Chairman and CEO of MSCI.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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