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FactSet Research Systems Inc. (NYSE:FDS) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.10%.
FactSet Research Systems Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 11.76% to $1.14 in the quarter versus EPS of $1.02 in the year-earlier quarter.
Revenue: Rose 6.89% to $213.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: FactSet Research Systems Inc. reported adjusted EPS income of $1.14 per share. By that measure, the company beat the mean analyst estimate of $1.11. It missed the average revenue estimate of $213.31 million.
Quoting Management: “While we were pleased to achieve ASV growth of $17.3 million in the quarter, we continue to operate in a challenging sell-side environment” said Philip A. Hadley, Chairman and CEO. “Our second quarter results include growing adjusted EPS by 12% and free cash flow by 11%. I am also proud to share that FactSet was recently named one of FORTUNE’s 100 Best Companies to Work For, marking our fifth appearance on that list in the last six years.”
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