The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how EXL (NASDAQ:EXLS) and the rest of the data & business process services stocks fared in Q2.
A combination of increasing reliance on data and analytics across various industries and the desire for cost efficiency through outsourcing could mean that companies in this space gain. As functions such as payroll, HR, and credit risk assessment rely on more digitization, key players in the data & business process services industry could see increased demand. On the other hand, the sector faces headwinds from growing regulatory scrutiny on data privacy and security, with laws like GDPR and evolving U.S. regulations potentially limiting data collection and monetization strategies. Additionally, rising cyber threats pose risks to firms handling sensitive personal and financial information, creating outsized headline risk when things go wrong in this area.
The 10 data & business process services stocks we track reported a mixed Q2. As a group, revenues beat analysts’ consensus estimates by 1.9% while next quarter’s revenue guidance was 3.1% below.
While some data & business process services stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.4% since the latest earnings results.
Best Q2: EXL (NASDAQ:EXLS)
Originally founded as an outsourcing company in 1999 before evolving into a technology-focused enterprise, EXL (NASDAQ:EXLS) provides data analytics and AI-powered digital operations solutions that help businesses transform their operations and make better decisions.
EXL reported revenues of $594.8 million, up 15.6% year on year. This print exceeded analysts’ expectations by 3.5%. Overall, it was a very strong quarter for the company with full-year revenue guidance beating analysts’ expectations.
Chairman and Chief Executive Officer Rohit Kapoor said, “We entered 2026 with strong momentum that accelerated through the first half, delivering second quarter revenue growth of 16% year-on-year and adjusted diluted EPS of 22% year-on-year. Our sustained double-digit growth reflects continued execution of our data and AI strategy and our differentiated position which helps clients effectively adopt AI across the enterprise. We have very good visibility into the balance of the year and look forward to a solid finish to 2026.”
EXL achieved the highest full-year guidance raise in the group. Unsurprisingly, the stock is up 15.5% since reporting and currently trades at $35.28.
Broadridge (NYSE:BR)
Processing over $10 trillion in equity and fixed income trades daily and managing proxy voting for over 800 million equity positions, Broadridge Financial Solutions (NYSE:BR) provides technology-driven solutions that power investing, governance, and communications for banks, broker-dealers, asset managers, and public companies.
Broadridge reported revenues of $2.22 billion, up 7.5% year on year, outperforming analysts’ expectations by 2.6%. The business had a strong quarter with a beat of analysts’ EPS estimates.
The market seems happy with the results as the stock is up 5.9% since reporting. It currently trades at $166.63.
Is now the time to buy Broadridge? Access our full analysis of the earnings results here, it’s free.
Weakest Q2: CoStar (NASDAQ:CSGP)
With a research department that makes over 10,000 property updates daily to its 35-year-old database, CoStar Group (NASDAQ:CSGP) provides comprehensive real estate data, analytics, and online marketplaces for commercial and residential properties in the U.S. and U.K.
CoStar reported revenues of $925 million, up 18.4% year on year, in line with analysts’ expectations. It was a slower quarter as it posted full-year revenue and EPS guidance in line with analysts’ estimates.
CoStar delivered the weakest full-year guidance update among its peers. As expected, the stock is down 3.6% since the results and currently trades at $29.24.
Read our full analysis of CoStar’s results here.
SS&C (NASDAQ:SSNC)
Founded in 1986 as a bridge between technology and financial services, SS&C Technologies (NASDAQ:SSNC) provides software and software-enabled services that help financial firms and healthcare organizations automate complex business processes.
SS&C reported revenues of $1.70 billion, up 10.3% year on year. This result beat analysts’ expectations by 2.1%. It was a strong quarter as it also produced an impressive beat of analysts’ billings estimates and a solid beat of analysts’ full-year EPS guidance estimates.
The stock is up 20.1% since reporting and currently trades at $80.38.
Read our full, actionable report on SS&C here, it’s free.
Planet Labs (NYSE:PL)
Pioneering the concept of "agile aerospace" with hundreds of small but powerful satellites, Planet Labs (NYSE:PL) operates the world's largest fleet of Earth observation satellites, capturing daily images of our planet to provide insights on deforestation, agriculture, and climate change.
Planet Labs reported revenues of $116.1 million, up 58.1% year on year. This print topped analysts’ expectations by 10.4%. Aside from that, it was a satisfactory quarter as it also logged a beat of analysts’ EPS estimates but full-year revenue guidance meeting analysts’ expectations.
Planet Labs achieved the biggest analyst estimate beat and fastest revenue growth, but had the weakest guidance update of the whole group. The stock is down 6.1% since reporting and currently trades at $17.24.
Read our full, actionable report on Planet Labs here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.