As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q2. Today, we are looking at data & business process services stocks, starting with Planet Labs (NYSE: PL).

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 1.6% since the latest earnings results.

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 exceeded analysts’ expectations by 10.4%. Overall, it was a satisfactory quarter for the company with a beat of analysts’ EPS estimates but full-year revenue guidance meeting analysts’ expectations.

“Planet delivered an outstanding second quarter, with record revenue of $116.1 million, representing 58% year-over-year growth and our fourth consecutive quarter of meeting or exceeding the Rule of 40,” said Will Marshall, Planet’s Co-Founder, Chief Executive Officer and Chairperson. “The team continues to demonstrate strong execution, highlighted by our satellite handover for the Swedish Armed Forces and landmark contract wins in August with the NGA and the German government. We’ve seen incredible traction in satellite services and our pipeline has continued to expand. To capture this momentum, our strategy pairs AI-enabled analytics with sovereign satellite services, merging our core growth vectors into an even more powerful offering.”

Planet Labs scored the biggest analyst estimate beat and fastest revenue growth, but had the weakest guidance update of the whole group. Even though it had a relatively good quarter, the market seems discontent with the results. The stock is down 10.3% since reporting and currently trades at $16.46.

Is now the time to buy Planet Labs? 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 highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 15.5% since reporting. It currently trades at $35.27.

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 full-year guidance update in the group. The stock is flat since the results and currently trades at $30.50.

Read our full analysis of CoStar’s results here.

Verisk (NASDAQ: VRSK)

Processing over 2.8 billion insurance transaction records annually through one of the world's largest private databases, Verisk Analytics (NASDAQ: VRSK) provides data, analytics, and technology solutions that help insurance companies assess risk, detect fraud, and make better business decisions.

Verisk reported revenues of $806.3 million, up 4.4% year on year. This print met analysts’ expectations. Zooming out, it was a mixed quarter as it also produced a beat of analysts’ EPS estimates but a slight miss of analysts’ full-year EPS guidance estimates.

Verisk had the slowest revenue growth among its peers. The stock is down 16.4% since reporting and currently trades at $177.53.

Read our full, actionable report on Verisk 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. This result was in line with analysts’ expectations. More broadly, it was a slower quarter as it recorded a slight miss of analysts’ full-year EPS guidance estimates and full-year revenue guidance meeting analysts’ expectations.

The stock is down 6.1% since reporting and currently trades at $169.05.

Read our full, actionable report on Equifax 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.