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FactSet: Modest Growth, Higher Costs
Here's our initial take on FactSet Research Systems' (NYSE: FDS) financial report.Financial data and analysis vendor FactSet grew revenue in the quarter and remains a must-have vendor for its existing client base. But higher costs ate into the bottom line, leading the company to report earnings per share that fell short of Wall Street expectations.Revenue, including the product of acquisitions, grew by 6% year over year, and organic revenue was up 4.4%. FactSet grew its annual subscription value (ASV) by 6%, including the result of acquisitions, to $2.4 billion, and annual ASV retention was greater than 95%. As a percentage of clients, annual retention was 91%.Continue reading
Here's our initial take on FactSet Research Systems' (NYSE: FDS) financial report.
Financial data and analysis vendor FactSet grew revenue in the quarter and remains a must-have vendor for its existing client base. But higher costs ate into the bottom line, leading the company to report earnings per share that fell short of Wall Street expectations.
Revenue, including the product of acquisitions, grew by 6% year over year, and organic revenue was up 4.4%. FactSet grew its annual subscription value (ASV) by 6%, including the result of acquisitions, to $2.4 billion, and annual ASV retention was greater than 95%. As a percentage of clients, annual retention was 91%.
