MSCI Reports Higher Earnings In Q1

(RTTNews) - MSCI Inc. (MSCI), a provider of investment decision support tools, Wednesday posted higher first-quarter earnings, driven by the income tax benefit associated with certain discontinued operations. The company's net income for the quarter rose 36.4 percent to $80.4 million or $0.68 per share from $59 million or $0.48 per share in the year-ago period. Net earnings included an income tax benefit of $30.6 million. On an adjusted basis, net earnings totaled $ 54.3 million or $ 0.46 per share. On average,9 analysts polled by Thomson Reuters expected earnings per share of $0.50 for the quarter. Analysts'estimates typically exclude one-time items.

The company posted operating revenues of $239.6 million versus last year's $219.4 million. Analysts estimated revenues of $257.17 million for the quarter.