Net income for the quarter ended May 31 settled at $126.7 million, or $3.50 per share, trailing the $148.5 million reported during the same period last year. Despite the decline in net profit, adjusted earnings reached $4.53 per share, comfortably clearing the $4.45 consensus estimate from analysts surveyed by the firm.
In section Market Quotes
FactSet Beats Revenue Estimates as Subscription Growth Continues
A 6% revenue uptick to $622.9 million helped FactSet Research Systems outpace analyst expectations for its fiscal third quarter. While bottom-line profits dipped year-over-year, the financial data provider’s core subscription metrics suggest sustained demand, keeping the company on track to meet its annual financial targets.
The company’s annual subscription value—a key indicator of recurring revenue over the coming 12 months—climbed to $2.48 billion by the end of May, up from $2.34 billion a year prior. Following these results, FactSet management reaffirmed the full-year outlook originally issued in March.
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