Stock Track | MSCI Reports Strong Financial Results for Third Quarter and Nine Months 2024

Stock Track10-29 21:40

MSCI Inc. (MSCI), a leading provider of critical decision support tools and services for the global investment community, reported strong financial results for the third quarter and nine months ended September 30, 2024.

In the third quarter of 2024, MSCI achieved operating revenues of $724.7 million, a 15.9% increase compared to the previous year. This growth was driven by a $71.6 million increase in recurring subscription revenues and a $27.6 million increase in asset-based fees.

The company's Index segment revenue rose 11.8% to $404.9 million, benefiting from higher asset-based fees and recurring subscription revenues. The Analytics segment revenue increased by 11.7% to $172.4 million, driven by growth in Multi-Asset Class and Equity Analytics products. The ESG and Climate segment revenue grew by 14.5% to $83.6 million, reflecting strong demand for Ratings, Climate, and Screening products.

MSCI's adjusted EBITDA, a non-GAAP measure of profitability, increased by 16.7% to $450.7 million in the third quarter, with an adjusted EBITDA margin of 62.2%. The company's net income rose by 8.2% to $280.9 million, and diluted earnings per share (EPS) increased by 9.2% to $3.57.

For the nine months ended September 30, 2024, MSCI reported operating revenues of $2.11 billion, a 14.9% increase compared to the same period in 2023. Adjusted EBITDA grew by 14.1% to $1.26 billion, and net income increased by 7.8% to $803.6 million.

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