- FactSet Research Systems Inc (NYSE:FDS) reported first-quarter FY22 revenue growth of 9.4% year-on-year to $424.7 million, beating the consensus of $419.1 million.
- Higher sales of analytics and research and advisory solutions drove the growth. Organic revenues grew 9.1% Y/Y to $423.2 million.
- Annual Subscription Value (ASV) plus professional services were $1.7 billion on November 30, 2021, compared with $1.6 billion on November 30, 2020.
- Adjusted EPS increased 12.8% Y/Y to $3.25, above the consensus of $2.99.
- Adjusted operating margin decreased 70 bps to 33.6%, reflecting increased infrastructure expenses and data costs.
- FactSet generated $72.9 million in operating cash flow and held $708.9 million in cash and equivalents.
- "Demand for differentiated content remains strong, which we intend to capitalize on with our leading open content and analytics platform," said Phil Snow, CEO, FactSet.
- Outlook: FactSet reaffirmed its outlook for FY22 revenue of $1.705 billion - $1.720 billion, below the consensus of $1.95 billion.
- FactSet sees adjusted EPS of $12.00 - $12.30 versus the consensus of $12.22.
- Price Action: FDS shares traded lower by 4.03% at $452 in the premarket session on the last check Tuesday.
