MSCI Inc. shares, a firm offering vital decision-making tools to investment companies, have surged over 8% this Tuesday morning. The surge followed the company's impressive fourth-quarter earnings report.
The company witnessed a significant rise in its fourth-quarter profit, reaching $403.38 million, or $5.07 per share, up from last year's fourth quarter earnings of $214.97 million, or $2.67 per share.
After stripping out one-off items, MSCI's adjusted profit was reported at $292.21 million or $3.68 per share. This exceeded the average prediction of $3.29 per share by analysts surveyed by Thomson-Reuters.
Furthermore, company revenue for the quarter climbed 19.8% to $690.11 million, up from $576.21 million this time last year, exceeding the consensus estimate of $662.73 million.
Currently, MSCI's shares stand at $599.22. In the past 52 weeks, they have fluctuated between $451.55 and $607.48.
