Analytics products help FactSet to report 14% revenue growth in Q2

Financial data and software company FactSet (FDS) reported splendid revenue growth for the second quarter of 2018, driven by increased sales of analytics products and content & technology solutions. Reported profit, however, took a plunge due to the non-recurring tax items totaling $22.9 million, resulting from the recently enacted U.S. Tax Cuts and Jobs Act (TCJA). Reported revenue spiked 13.8% year-over-year to $335.2 million. Earnings plunged 20% to $53.1 million or $1.33 per share. On an adjusted basis, earnings jumped 17.1% to $2.12 per share.

For the second quarter, FactSet’s Annual Subscription Value increased to $1.35 billion compared to $1.19 billion in the prior year. Organic ASV, which excludes the effects of acquisitions, dispositions, and foreign currency, increased 5.8%.