Looking back on data & business process services stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including ADP (NASDAQ: ADP) 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 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 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 6.4% on average since the latest earnings results.

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 print exceeded analysts’ expectations by 0.7%. Overall, it was a satisfactory quarter for the company with a beat of analysts’ EPS estimates.

Interestingly, the stock is up 7.5% since reporting and currently trades at $283.90.

Is now the time to buy ADP? Access our full analysis of the earnings results 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 and a beat of analysts’ EPS estimates.

EXL delivered 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 22.6% since reporting. It currently trades at $37.42.

Is now the time to buy EXL? 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 guidance missing analysts’ expectations and full-year EPS guidance in line with analysts’ estimates.

CoStar delivered the weakest guidance update and weakest full-year guidance update among its peers. Interestingly, the stock is up 6.4% since the results and currently trades at $32.29.

Read our full analysis of CoStar’s results here.

Fair Isaac Corporation (NYSE: FICO)

Creator of the three-digit number that can determine whether you get a mortgage or credit card, Fair Isaac Corporation (NYSE: FICO) develops analytics software and the widely used FICO Score, which is the standard measure of consumer credit risk in the United States.

Fair Isaac Corporation reported revenues of $674.2 million, up 25.7% year on year. This number missed analysts’ expectations by 1.5%. It was a slower quarter as it also logged full-year revenue guidance slightly missing analysts’ expectations.

Fair Isaac Corporation delivered the fastest revenue growth but had the weakest performance against analyst estimates of the whole group. The stock is down 19.7% since reporting and currently trades at $1,102.

Read our full, actionable report on Fair Isaac Corporation here, it’s free.

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 print topped analysts’ expectations by 1.8%. More broadly, it was a mixed quarter as its performance in some other areas of the business was disappointing.

TransUnion achieved the highest guidance raise in the group. The stock is up 8.3% since reporting and currently trades at $83.67.

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