Morningstar reported a third quarter net income totaled $21.4 million, or 42 cents per share, down from $24.7 million, or 49 cents a share, a year earlier.

Its revenue jumped 14.5 percent to $160.1 million, a 14.5 percent increase from $139.8 million in the third quarter of 2010.

"Investment Consulting and Morningstar Direct were the primary growth drivers in the quarter, followed by Integrated Web Tools and Structured Credit Ratings," stated Joe Mansueto, chairman and chief executive officer of Morningstar. "However, operating expense rose because of higher compensation costs, including bonus expense."

Reuters also covered Morningstar's earnings release. 

Edited by: Hung Tran


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