Market-leading provider of research and analytics, MSCI Inc., revealed a surge in its profits for the fourth quarter that surpassed last year's earnings and exceeded Wall Street predictions.
The financial results demonstrated that the company's net income reached $403.38 million, translating to $5.07 per share. A significant leap compared to the same quarter of the previous year, which recorded $214.97 million or $2.67 per share.
When separating unique items from the calculation, MSCI Inc. disclosed an adjusted income of $292.21 million for the period, or $3.68 per share.
The figures surpassed analysts' average projection of $3.29 per share, as compiled by Thomson Reuters - a prediction that generally does not account for extraordinary items.
Additionally, the company posted a 19.8% increase in revenue for the quarter, soaring to $690.11 million from last year's $576.21 million.
To break down, MSCI Inc.'s earnings following the Generally Accepted Accounting Principles (GAAP) for the fourth quarter were as follows:
- Earnings: $403.38 Million compared to $214.97 Million last year.
- Earnings Per Share: $5.07, a considerable increase from last year's $2.67.
- Revenue: An impressive rise to $690.11 Million from last year's $576.21 Million.
Analysts had previously estimated an EPS of $3.29.
