(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.