MSCI's second quarter results beat estimates, driven by a 17.5% surge in Index segment revenue.

MSCI reported second quarter 2026 operating revenues of $867.0 million, up 12.2% year-over-year, and adjusted EPS of $4.94, an 18.5% increase. These results surpassed consensus estimates for both revenue and EPS.

Key Highlights

• The Index segment was the primary growth driver, with revenues increasing 17.5% to $511.0 million, fueled by a 26.6% jump in asset-based fees from record ETF AUM.
• Total Run Rate grew 12.0% to $3.48 billion, while the overall recurring subscription Retention Rate remained strong at 95.3%.
• Full-year 2026 expense guidance was raised for both Operating Expense (to $1,535-$1,575 million) and Adjusted EBITDA Expense (to $1,340-$1,370 million), reflecting recent acquisitions and strong business momentum.