MSCI Inc. stock research
FY2024 Q2
MSCI (MSCI) Gross Margin — Quarter Ended Jun 30, 2024
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin improved sequentially but was slightly lower than the year-ago period, reflecting a mixed performance.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Gross margin improved sequentially but was slightly lower than the year-ago period, reflecting a mixed performance.
- The sequential improvement in gross margin was driven by gross profit growing faster than revenue, while cost of revenue remained nearly flat. Compared to a year ago, cost of revenue increased more than proportionally, leading to a slight margin decline.
- Compared to the prior quarter, revenue and gross profit were higher, cost of revenue was slightly lower, and gross margin improved. Versus the same quarter last year, revenue and gross profit were higher, cost of revenue was higher, and gross margin was slightly lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
81.3%
Gross profit
$575.6M
Revenue
$707.9M
Cost of revenue
$132.3M
Quarter-over-quarter change
+0.8 pts
Year-over-year change
-0.1 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2023 | $625.4M | $514.9M | $110.6M | 82.3% |
| Dec 31, 2023 | $690.1M | $562.5M | $127.7M | 81.5% |
| Mar 31, 2024 | $680.0M | $547.4M | $132.6M | 80.5% |
| Jun 30, 2024 | $707.9M | $575.6M | $132.3M | 81.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+0.8 pts
Year-over-year change
Jun 30, 2023
-0.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The sequential improvement in gross margin was driven by gross profit growing faster than revenue, while cost of revenue remained nearly flat. Compared to a year ago, cost of revenue increased more than proportionally, leading to a slight margin decline.
Compared to the prior quarter, revenue and gross profit were higher, cost of revenue was slightly lower, and gross margin improved. Versus the same quarter last year, revenue and gross profit were higher, cost of revenue was higher, and gross margin was slightly lower.
Monitor cost of revenue trends, as it increased year-over-year while gross margin remained relatively stable.