Total revenue grew 10% Y/Y, with organic revenue growing 6.1%. The decision analytics segment grew 11.2%. Mortgage services declined 16.6%. Healthcare revenue increased by a less-than-expected 6.2%.
CEO Scott Stephenson attributed softness in organic growth to "relatively low" property claims activity, mean-reverting mortgage defaults, and price reductions in the RQI division of Verisk Health to drive higher volumes on a multi-year basis.
Management expects revenue growth for the full year of 2013 of 12%-14% (vs. analyst expectations of 12.3%) and a mid-teens growth in 2014 (8.6%). Analysts raised concern over slowing healthcare business growth on the conference call.