FactSet Research Systems Inc. (NYSE:FDS) reported net income above Wall Street’s expectations for the first quarter. FactSet Research Systems is a provider of integrated global financial and economic information, including fundamental financial data on tens of thousands of companies worldwide.
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FactSet Research Systems Inc. Earnings Cheat Sheet
Results: Net income for FactSet Research Systems Inc. rose to $49.8 million ($1.11 per share) vs. $45.5 million (99 cents per share) in the same quarter a year earlier. This marks a rise of 9.3% from the year-earlier quarter.
Revenue: Rose 7.5% to $211.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: FactSet Research Systems Inc. reported adjusted net income of $1.22 per share. By that measure, the company beat the mean estimate of $1.11 per share. It beat the average revenue estimate of $202.9 million.
Quoting Management: Philip A. Hadley, Chairman and CEO said, “Against the backdrop of a difficult selling environment, particularly for the sell-side, FactSet again delivered double-digit EPS growth. We continued our long track record of reinvesting back into the Company to position FactSet to be even stronger as I look ahead.”
The company has now seen net income rise in three straight quarters. In the fourth quarter of the last fiscal year, net income rose 18.7% and in the third quarter of the last fiscal year, the figure rose 10.8%.
The company has now topped analyst estimates for the last four quarters. It beat the mark by 4 cents in the fourth quarter of the last fiscal year, by 4 cents in the third quarter of the last fiscal year, and by 5 cents in the second quarter of the last fiscal year.
Revenue has risen the past four quarters. Revenue increased 8.2% to $207.7 million in the fourth quarter of the last fiscal year. The figure rose 10.2% in the third quarter of the last fiscal year from the year earlier and climbed 12.2% in the second quarter of the last fiscal year from the year-ago quarter.
Looking Forward: Expectations for the second quarter have not changed from $1.13. For the fiscal year, the average estimate has moved up from $4.60 a share to $4.61 over the last sixty days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)