FactSet (FDS) reported fourth quarter 2018 results which, despite seeing growth, missed market expectations sending the stock down 5% during premarket hours.
The company posted a 5.9% increase in total revenues to $345.9 million while organic revenues grew 5.3% to $347.1 million compared to the same period last year. The growth in revenues was driven mainly by higher sales of research and analytics products, content and technology solutions and wealth management solutions.
Net income grew 15.6% to $68.8 million and diluted EPS rose 16.4% to $1.77 versus the prior-year quarter. Adjusted diluted EPS improved 15.8% to $2.20, driven by the US Tax Cuts and Jobs Act.

Annual Subscription Value (ASV) increased to $1.39 billion compared to the prior-year. For the fourth quarter, the company recorded its highest-ever organic ASV growth of $38.6 million. Research ASV remained flat during the quarter at $637.2 million while ASVs in Analytics, Content and Technology Solutions and Wealth saw increases.
FactSet’s client count increased during the quarter driven mainly by institutional asset managers and wealth management while the user count saw improvements due to higher investment banking workstation sales.
For fiscal-year 2019, the company expects GAAP revenues to be $1.41 billion to $1.45 billion. GAAP diluted EPS is expected to be $8.70 to $8.90 while adjusted diluted EPS is expected to be $9.45 to $9.65. Organic ASV plus professional services is expected to grow by $75 million to $90 million over 2018.
FactSet added that it appointed Helen Shan as the new Chief Financial Officer in September.
Most Popular
AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard