Summary by Moomoo AI
MSCI reported robust Q2 2024 financial results with operating revenues reaching $707.9 million, up 14.0% YoY, driven by 18.2% growth in asset-based fees and 14.4% increase in recurring subscription revenues. Operating margin was 54.0% while adjusted EBITDA margin held steady at 60.7%.The company achieved record AUM balances in ETFs linked to MSCI indexes, with period-end AUM reaching $1.63 trillion. Total Run Rate grew 14.6% to $2.81 billion, supported by 8.6% organic recurring subscription Run Rate growth. The retention rate remained strong at 94.8%.Looking ahead, MSCI maintained its full-year 2024 guidance, projecting operating expenses of $1.31-1.35 billion and adjusted EBITDA expenses of $1.13-1.16 billion. The company continued its capital return program, repurchasing $289.9 million in shares through July 19 and declaring a Q3 cash dividend of $1.60 per share.
