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NEW YORK - FactSet Research Systems Inc . (NYSE:FDS) reported third-quarter earnings that fell short of analyst expectations on Monday.
FactSet shares were down 1.40% in pre-market trading following the release of the quarterly results.
The financial data and software company posted adjusted earnings per share of $4.27 for the quarter ended May 31, missing the consensus estimate of $4.30. Revenue came in at $585.5 million, surpassing analyst projections of $580.54 million and representing a 5.9% increase from $552.7 million in the same quarter last year.
FactSet’s organic revenue, which excludes acquisitions and currency impacts, grew 4.4% year-over-year to $577.2 million. The company said growth was driven by wealth and institutional buy-side clients.
"We are pleased with our third quarter performance, which reflects the execution of our enterprise solution strategy," said CEO Phil Snow. "With a healthy pipeline and increased momentum, we are well-positioned to finish the fiscal year with strength."
For fiscal 2025, FactSet reaffirmed its outlook, forecasting adjusted EPS of $16.80-$17.40 on revenue of $2.305-$2.325 billion. The midpoint of both ranges is roughly in line with current analyst estimates.
The company’s annual subscription value (ASV) grew 4.5% organically to $2.30 billion as of May 31. FactSet added 166 clients in the quarter, bringing its total client count to 8,811.
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