Summary by Moomoo AI
MSCI Inc. reported robust financial results for Q2 2024, with total operating revenues increasing 14.0% to $707.9 million. Asset-based fees grew 18.2% to $163.3 million, while recurring subscription revenues rose 14.4% to $521.5 million. The growth was primarily driven by higher AUM in ETFs linked to MSCI equity indexes, which increased 19.3% year-over-year to average $1.59 trillion.Operating income increased 10.6% to $382.6 million, though operating margin slightly decreased to 54.0% from 55.7%. The company maintained strong cost discipline while continuing to invest in growth initiatives, with Adjusted EBITDA rising 14.0% to $430.0 million and Adjusted EBITDA margin remaining stable at 60.7%.Looking ahead, MSCI's Run Rate grew 14.6% year-over-year to $2.81 billion, with recurring subscription Run Rate up 14.2%. The company continued its capital return program, repurchasing 499,224 shares at an average price of $483.79 per share during the quarter and declaring a quarterly dividend of $1.60 per share for Q3 2024.
