MSCI (NYSE: MSCI) reported Q3 EPS of $2.20, $0.40 better than the analyst estimate of $1.80. Revenue for the quarter came in at $425.3 million versus the consensus estimate of $422.69 million.

Financial and Operational Highlights for Third Quarter 2020
(Note: Percentage and other changes are relative to the three months ended September 30, 2019 (“third quarter 2019”) unless otherwise noted).

• Operating revenues of $425.3 million, up 7.9%
• Recurring subscription revenues up 8.7%; Asset-based fees up 4.5%; Non-recurring revenues up 16.2%
• Operating margin of 53.5%; Adjusted EBITDA margin of 58.6%
• Diluted EPS of $2.16, up 35.0%; Adjusted EPS of $2.20, up 31.0%
• New recurring subscription sales growth of 7.4%; Organic subscription Run Rate growth of 9.4%; Retention Rate of 94.5%
• During third quarter 2020 and through October 23, 2020, a total of 745,032 shares were repurchased at an average price of $345.78 per share for a total value of $257.6 million
• Approximately $65.3 million in dividends were paid to shareholders in third quarter 2020; Cash dividend of $0.78 per share declared by MSCI Board of Directors for fourth quarter 2020

“In the midst of a global pandemic which has resulted in economic turmoil and significant changes in how we and our clients work, we are proud of our team’s delivery of another quarter of over 10% growth in recurring subscription Run Rate. MSCI’s third quarter results reflect our clients’ continued demand for our mission-critical solutions and the resilience of our franchise,” said Henry A. Fernandez, Chairman and CEO of MSCI.

“We have returned nearly $800 million in capital to our shareholders year-to-date through October 23, 2020, including opportunistic repurchases of our shares at an average price of $283.33 and quarterly dividends. We also continue to invest in a number of attractive ‘Triple Crown’ opportunities across our franchise, as we remain highly confident in our long-term growth prospects,” added Mr. Fernandez.

For earnings history and earnings-related data on MSCI (MSCI) click here.