FactSet Research Systems Inc. (NYSE: FDS), a leading provider of data analytics services, has reported a modest increase in third-quarter adjusted profit. Revenues increased by 8.4% during the three-month period.
- Revenues increased 8.4% year-over-year to $529.8 million in the three months ended May 2023
- Net income, on a reported basis, jumped to $134.7 million or $3.46 per share in Q3 from $74.9 million or $1.93 per share last year
- On an adjusted basis, the company reported earnings of $3.79 per share, which is slightly higher than the $3.76 per share reported last year
- Operating margin moved up 1,260 bps to 32.5%, while adjusted operating margin declined 60 bps to 36.0%
- The management expects adjusted operating margin to be in the range of 35% to 36% in fiscal 2023
- It is looking for a 10%-13% growth in full-year adjusted diluted earnings per share
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