Morningstar Inc. (MORN) Stock Soars on Earnings
Independent investment research provider Morningstar Inc. said Thursday its second-quarter earnings rose 64 percent due to growth across all business lines led by the institutional investment business division.
Profit rose to $18.3 million, or 38 cents per share, from $11.2 million, or 24 cents per share, during the same quarter in 2006.
Analysts polled by Thomson Financial, on average, forecast earnings of 35 cents per share on revenue of $100.3 million during the second quarter.
Morningstar reported revenue of $109.7 million for the quarter, up from $76.3 million during the same quarter a year ago.
Profit rose to $18.3 million, or 38 cents per share, from $11.2 million, or 24 cents per share, during the same quarter in 2006.
Analysts polled by Thomson Financial, on average, forecast earnings of 35 cents per share on revenue of $100.3 million during the second quarter.
Morningstar reported revenue of $109.7 million for the quarter, up from $76.3 million during the same quarter a year ago.
Labels: MORN, Morningstar Inc.
posted by Stock Administrator @ 9:52 PM
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