MSCI Inc. Reports 12.2% Revenue Growth to $867M in Q2 2026

MSCI Inc. reported strong financial performance for the second quarter of 2026, with operating revenues reaching $867.0 million, a 12.2% increase from $772.7 million in the same period last year. For the first half of 2026, revenues totaled $1.717 billion, up 13.1% from $1.519 billion in the prior year. The company's net income also saw significant growth, rising to $342.0 million for the quarter, compared to $303.7 million in Q2 2025, and $748.0 million for the first half, up from $592.3 million a year earlier. This resulted in earnings per share of $4.70 for the second quarter, compared to $3.92 in the previous year.

The increase in revenue was primarily driven by a rise in recurring subscription revenues, which grew by 9.0% to $613.4 million in Q2 2026, and a notable 26.6% increase in asset-based fees, totaling $233.1 million. The company attributed this growth to higher average assets under management (AUM) in exchange-traded funds (ETFs) linked to MSCI equity indexes. Additionally, MSCI's total operating expenses increased by 9.2% to $379.5 million in the second quarter, reflecting higher costs in selling and marketing, research and development, and general administrative expenses.

Strategically, MSCI has been active in expanding its capabilities through acquisitions. In early 2026, the company completed the acquisition of Vantager, Compass Financial Technologies, and ApeVue, enhancing its offerings in private markets data and index services. Furthermore, MSCI announced a definitive agreement to acquire First Street Technology, which specializes in climate risk data and analytics, expected to close in Q3 2026. These acquisitions are anticipated to bolster MSCI's product offerings and market position.

Operationally, MSCI served approximately 6,800 clients across more than 100 countries as of June 30, 2026. The company reported a slight increase in employee headcount to 6,327, reflecting a 1.9% growth year-over-year. The retention rate for subscriptions improved to 95.3%, indicating strong client loyalty and satisfaction. The company also noted that its geographic revenue distribution remained robust, with significant contributions from the Americas, EMEA, and Asia-Pacific regions.

Looking ahead, MSCI expressed optimism about its growth trajectory, driven by ongoing demand for its data and analytics solutions, particularly in sustainability and climate-related investments. The company anticipates continued revenue growth, supported by its strategic acquisitions and an expanding client base. However, MSCI also acknowledged potential risks related to market conditions and foreign currency fluctuations, which could impact its financial performance in the future.