FactSet Q1 Results Top Estimates, But Trims FY24 Outlook
(RTTNews) - FactSet Research Systems, Inc. (FDS) reported Tuesday that net income for the first quarter increased to $148.56 million or $3.84 per share from $136.80 million or $3.52 per share in the prior-year quarter.
Excluding items, net income was $4.12 per share, compared to $3.99 per share last year.
Revenue for the quarter increased 7.4 percent to $542.22 million from $504.82 million in the same quarter last year. Organic revenues grew 7.2 percent to $541.39 million.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $4.11 per share on revenues of $540.36 million for the quarter. Analysts' estimates typically exclude special items.
For fiscal 2024, the company now projects earnings in a range of $13.95 to $14.35 per share and adjusted earnings in a range of $15.60 to $16.00 per share on revenue between $2.20 billion and $2.21 billion.
Previously, the company expected earnings in the range of $14.20 to $14.70 per share and adjusted earnings in the range of $15.65 to $16.15 per share on revenue between $2.21 billion and $2.23 billion
The Street is looking for earnings of $16.08 per share on revenues of $2.22 billion for the year.
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