(Reuters) – Global index provider MSCI on Tuesday posted a higher third-quarter profit as product subscriptions benefited from a market recovery led by bets of the U.S. Federal Reserve easing up on rate hikes.
MSCI, recognized for its stock indexes, also offers clients subscriptions for information, data, and tools to help them evaluate and invest in diverse global markets.
Recurring subscriptions for the quarter ended Sept. 30 in its index segment rose 11.3% to $206.5 million, while its ESG and Climate unit posted a 27.3% jump to $71.7 million.
On an adjusted basis, net income for the third quarter was $274.1 million, or $3.45 per share, up from $230.8 million, or $2.85 per share, a year ago.
(Reporting by Pritam Biswas in Bengaluru; Editing by Devika Syamnath)
