Adjusted operating margin improved by 40 basis points year-over-year to 15.6%, on track to achieve 20 to 40 basis points margin expansion goal for 2025.
Belcan acquisition contributed approximately 400 basis points of inorganic growth.
Financial Services grew 6% year-over-year, led by digital engineering, legacy modernization, and vendor consolidation initiatives.
Headcount grew about 2% sequentially, led by hiring recent college graduates; voluntary attrition for tech services declined by 60 basis points sequentially to 15.2%.
Health Sciences grew 5% year-over-year despite near-term discretionary demand pressures from Medicaid changes and tariffs.
Q2 bookings grew 18% year-over-year, with trailing 12 months growth of 6%, including 6 large deals with TCV of $100 million or greater and 2 mega deals valued around $1 billion each.
Returned $521 million of capital to shareholders in Q2, with $885 million returned in the first half of 2025.
Revenue grew across all major regions with North America leading at 8%, Europe at 4%, and Rest of World at about 6%.
Second quarter free cash flow was $331 million compared to $183 million a year ago.
Second quarter revenue grew 7.2% year-over-year in constant currency to $5.2 billion, marking the fourth consecutive quarter of year-over-year organic growth.
Book Publishing revenues increased 3% to $2.1 billion with EBITDA up 10%, though Q4 saw a 4% revenue decline and 12% EBITDA decline due to softer market conditions and difficult prior year comparisons.
Digital Real Estate Services revenues rose 9% for the year with EBITDA up 18%, despite a sluggish U.S. housing market; Realtor.com showed growth in rentals, new homes, and seller segments, accounting for 24% of revenues in Q4.
Dow Jones segment revenues increased 4% for the year and 7% in Q4, with EBITDA up 8% for the year and 10% in Q4, driven by strong growth in Professional Information Business and digital circulation revenues.
In Q4 2025, revenues rose 1% to $2.1 billion, total segment EBITDA grew 5% to $322 million, and net income from continuing operations increased 28% to $86 million.
Net income from continuing operations increased 71% to $648 million for the full year, with profit margins improving by 170 basis points to 16.7%.
News Corp reported fiscal 2025 revenues of nearly $8.5 billion, a 2% increase year-over-year, with total segment EBITDA rising 14% to just over $1.4 billion, marking a record for the company on a continuing operations basis.
News Media segment faced a 4% revenue decline and 13% EBITDA decline in Q4 due to soft advertising conditions, partially offset by cost reductions.
Adjusted EBITDA reached an all-time high of $29 million, representing a 19% margin, reflecting both revenue growth and disciplined operating expenses.
Adjusted operating expenses decreased 7% year-over-year to $76 million, aided by investment timing delays, tax benefits, and operational efficiencies.
GAAP net loss was minimal at $0.6 million, including $8 million of interest income, indicating near breakeven profitability.
Gross profit was $104 million, up 31% year-over-year, with a gross margin of 69%, including an 8.6% benefit from a revised accounting policy on card network incentives.
Marqeta reported strong Q2 2025 financial results with total processing volume (TPV) reaching $91 billion, a 29% year-over-year increase.
Net revenue grew 20% year-over-year to $150 million, driven by diverse use cases and strong customer growth.
Share repurchases continued with 35.2 million shares bought back in Q2 at an average price of $4.62, totaling 61.5 million shares repurchased year-to-date.
ASGN reported second quarter 2025 revenues of $1.02 billion, above the high-end of guidance, with adjusted EBITDA margin at 10.6%, at the top end of expectations.
Cash and cash equivalents were $138.9 million; $320 million available on revolver; net leverage ratio was 2.46x.
Commercial consulting bookings totaled $417.5 million with a book-to-bill ratio of 1.2x on a trailing 12-month basis.
Federal Government segment revenues increased 1.1%, including $10 million of higher-than-expected license revenues.
Federal new contract awards were $72 million with a book-to-bill of 1.1x, and federal backlog was over $2.9 billion, a coverage ratio of 2.4x trailing 12-month revenues.
Free cash flow was $115.8 million, converting approximately 107% of adjusted EBITDA; $9.5 million was used to repurchase 200,000 shares.
Gross margin was 28.7%, down 40 basis points year-over-year; Commercial segment gross margin improved by 30 basis points to 33%, Federal segment gross margin declined 140 basis points to 19.2%.
Gross margin was 28.7%, down 40 basis points year-over-year; Commercial segment gross margin increased 30 basis points to 33%, Federal segment gross margin declined 140 basis points to 19.2%.
IT consulting revenues grew to approximately 63% of total revenues, up from 57% year-over-year.
Net income was $29.3 million; adjusted EBITDA was $108.5 million with a margin of 10.6%.
Net leverage ratio was 2.46x at quarter end with $138.9 million in cash and $320 million available on revolver.
Second quarter revenues decreased 1.4% year-over-year; Commercial segment revenues declined 2.4%, with assignment revenues down 13.9%, while commercial consulting revenues increased 15.7%.
SG&A expenses increased to $216.8 million, including $8.3 million in acquisition, integration, and strategic planning expenses.
SG&A expenses were $216.8 million, including $8.3 million in acquisition, integration, and strategic planning expenses.
Dafinchi