MSCI

Q2 FY2026 EarningsQ2 FY2026 results were largely in-line with consensus on the top line but showed a slight miss on adjusted EPS ($4.94 vs. $4.98 expected). Revenue of $867.0M (+12.2% YoY) slightly trailed the $870.0M consensus, as strong 26.6% growth in asset-based fees was offset by a decline in non-recurring revenues. The Index segment remains the primary engine, with a record asset-based fee Run Rate, while the Sustainability and Climate segment saw softer organic growth. Management updated FY2026 expense guidance upward to reflect acquisition impacts and performance-led incentive accruals, potentially signaling near-term margin pressure despite robust long-term demand.