MSCI

MSCI quarterly profit rises on subscription strength

Credit: REUTERS/THOMAS WHITE

Jan 30 (Reuters) - Global index provider MSCI MSCI.N posted a higher fourth-quarter profit on Tuesday, as its product subscriptions benefited from a market recovery led by bets that the U.S. Federal Reserve is nearing an end to its record rate hike cycle.

A market rally has prompted investors to spend more on indexes and analytics, as demand for portfolio rebalancing and risk management grows, benefiting companies such as MSCI that offer such products.

MSCI, known for its stock indexes, also offers clients subscriptions for information, data, and tools to help them evaluate and invest in diverse global markets.

Recurring subscriptions in its index segment rose 10.9% to $210.7 million in the fourth quarter ended Dec. 31 from a year earlier, while its ESG and Climate unit posted a 20.3% jump to $74.8 million.

On an adjusted basis, net income rose to $292.2 million, or $3.68 per share, from $228.6 million, or $2.84 per share, a year earlier.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shinjini Ganguli)

((JaiveerSingh.Shekhawat@thomsonreuters.com;))

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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