Financials
Financial Data & Stock Exchanges
$46.86B
5.8K
Key insights and themes extracted from this filing
Operating revenues increased by 14.0% to $707.9 million for the three months ended June 30, 2024, driven by a 14.4% increase in recurring subscriptions and an 18.2% increase in asset-based fees. Adjusting for the impact of foreign currency exchange rate fluctuations and recent acquisitions, total operating revenues would have increased 9.7%.
Net income increased by 8.1% to $266.8 million for the three months ended June 30, 2024, while total operating expenses increased by 18.2%. This indicates that while the company is growing revenue, it is also experiencing increased costs, which impacts margins.
Operating expenses increased across all categories, with cost of revenues up 16.4%, selling and marketing up 5.1%, research and development up 36.3%, and general and administrative up 11.4%. This indicates broad cost pressures across the business.