Categories Earnings, Finance

Earnings Summary: FactSet reports higher revenue and profit for Q3 2024

FactSet Research Systems Inc. (NYSE: FDS), a leading provider of data analytics services, announced financial results for the third quarter of 2024, reporting higher revenues and adjusted profit.

  • Third-quarter revenues increased 4.3% year-over-year to $552.7 million
  • Organic Annual Subscription Value plus professional services was $2.22 billion in Q3, up 5% year-over-year
  • Q3 net income, on a reported basis, came in at $158.14 million or $4.09 per share, representing increases of 17.4 % and 18.2% respectively
  • Adjusted earnings, on a per-share basis, rose 15.3% annually to $4.37 during the three months
  • The management expects full-year organic Annual Subscription Value plus professional services to grow 4-5.5% annually
  • The company is looking for revenues in the range of $2.18 billion to $2.19 billion for fiscal 2024
  • The guidance for FY24 adjusted operating margin is between 37.0% and 37.5%
  • Adjusted profit is estimated to be in the range of $16.00 per share to $16.40 per share in the full fiscal year

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