Morningstar Q2 2020 Earnings Report
Key Takeaways
Morningstar's Q2 2020 revenue increased by 19.7% to $327.9 million, with organic revenue growth of 5.8%. Net income was $48.2 million, or $1.12 per diluted share, compared to $42.1 million, or $0.98 per diluted share, in the prior year. Adjusted diluted net income per share increased 31.2% to $1.43. The company's license-based revenue grew 10.1% year over year, driven by PitchBook, Morningstar Data, and Morningstar Direct.
Revenue increased by 19.7% compared to the second quarter of 2019, or 5.8% higher on an organic basis.
License-based revenue grew 10.1% year over year, driven by PitchBook, Morningstar Data, and Morningstar Direct.
Operating income was $61.3 million, an increase of 20.7% compared with the prior-year period.
Adjusted diluted net income per share increased 31.2% to $1.43, compared with $1.09 in the prior-year period.
Morningstar
Morningstar
Forward Guidance
No specific forward guidance was provided in the release.