Looking back on data & business process services stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including CoStar (NASDAQ: CSGP) and its peers.

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 be 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 9 data & business process services stocks we track reported a mixed Q2. As a group, revenues beat analysts’ consensus estimates by 1% while next quarter’s revenue guidance was 1.3% below.

Thankfully, share prices of the companies have been resilient as they are up 7.8% on average since the latest earnings results.

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. This print was in line with analysts’ expectations, but overall, it was a slower quarter for the company with full-year revenue and EPS guidance in line with analysts’ estimates.

“The second quarter marked a profitability inflection point for CoStar Group as Adjusted EBITDA more than doubled year-over-year to $184 million. We held operating cost growth to just 2%, and we delivered our 61st consecutive quarter of double-digit revenue growth," said Andy Florance, Founder and Chief Executive Officer of CoStar Group.

CoStar delivered the weakest guidance update and weakest full-year guidance update among its peers. Interestingly, the stock is up 6.9% since reporting and currently trades at $32.42.

Read our full report on CoStar here, it’s free.

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, outperforming analysts’ expectations by 3.5%. The business had a very strong quarter with full-year revenue guidance beating analysts’ expectations.

EXL achieved the biggest analyst estimate beat and highest full-year guidance raise of the whole group. The market seems happy with the results as the stock is up 23.6% since reporting. It currently trades at $37.74.

Is now the time to buy EXL? Access our full analysis of the earnings results here, it’s free.

Equifax (NYSE: EFX)

Holding detailed financial records on over 800 million consumers worldwide and dating back to 1899, Equifax (NYSE: EFX) is a global data analytics company that collects, analyzes, and sells consumer and business credit information to lenders, employers, and other businesses.

Equifax reported revenues of $1.7 billion, up 10.6% year on year, in line with analysts’ expectations. It was a slower quarter as it posted a slight miss of analysts’ full-year EPS guidance estimates and full-year revenue guidance meeting analysts’ expectations.

Interestingly, the stock is up 8.1% since the results and currently trades at $194.64.

Read our full analysis of Equifax’s results here.

TransUnion (NYSE: TRU)

One of the three major credit bureaus in the United States alongside Equifax and Experian, TransUnion (NYSE: TRU) is a global information and insights company that provides credit reports, fraud prevention tools, and data analytics to help businesses make decisions and consumers manage their financial health.

TransUnion reported revenues of $1.31 billion, up 14.9% year on year. This result topped analysts’ expectations by 1.8%. Aside from that, it was a mixed quarter as its performance in some other areas of the business was disappointing.

TransUnion delivered the highest guidance raise in the group. The stock is up 9.9% since reporting and currently trades at $84.88.

Read our full, actionable report on TransUnion here, it’s free.

ADP (NASDAQ: ADP)

Processing one out of every six paychecks in the United States, ADP (NASDAQ: ADP) provides cloud-based human capital management solutions that help businesses manage payroll, benefits, talent acquisition, and HR administration.

ADP reported revenues of $5.47 billion, up 6.8% year on year. This number beat analysts’ expectations by 0.7%. It was a satisfactory quarter as it also logged a beat of analysts’ EPS estimates.

The stock is up 7.1% since reporting and currently trades at $282.95.

Read our full, actionable report on ADP 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 Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.