- Morningstar (NASDAQ:MORN) posted double-digit revenue gains in its Q2 earnings and drew even bigger increases in operating profit.
- Revenues grew 10% to $252.4M (organic growth of 9.6%). Year-to-date, revenues are up 13% (and organic revenues up 11.6%).
- Operating income rose 16.6% in Q2 to $53.6M. It's up 35.9% YTD.
- Net income/share dipped 9.3% for the quarter, to $0.97 from $1.07, but the prior year's quarter included a $0.42/share benefit from the HelloWallet sale. YTD EPS is up 31%.
- Revenue by type: License-based, $184.3M (up 10.5%); Asset-based, $48.7M (up 6.4%); Transaction-based, $19.4M (up 16.1%).
- Cash from operations rose 25.3% to $69.8M, and free cash flow rose 41.1% to $51.8M.
- Press release