Jul. 21 at 1:03 PM
$MSCI Q2 PRINT: Record Asset Fees Meets Higher OpEx
Revenue jumped +12.2% to
$867.0M while Asset-Based Fees surged +26.6% on record ETF AUM. Adjusted EBITDA margin clocked in at an impressive 62.1%.
THE NUMBERS:
EPS:
$4.94 (Est.
$4.97)
Free Cash Flow: FY26 guidance raised to
$1.485B -
$1.545B
OpEx Guidance: Raised to
$1.535B -
$1.575B
With recurring subscriptions humming, First Street acquired, and AI products expanding, management is playing offense. Is this pull-back a gift or an OpEx trap?
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