Wealth-management users boost FactSet’s performance

  • FactSet Research Systems posts higher revenue and earnings in Q1
  • Wealth-management users drive growth in user count
  • Adjusted earnings of $4.12 per share beat analysts’ expectations
  • Revenue rises over 7% to $542.2 million
  • Annual subscription value plus professional services increases to $2.18 billion

FactSet Research Systems has reported higher revenue and earnings in its fiscal first quarter, driven by a rising tally of wealth-management users. The company’s profit for the quarter was $148.6 million, or $3.84 per share, compared to $136.8 million, or $3.52 per share, in the same period last year. Adjusted earnings came in at $4.12 per share, beating analysts’ expectations. Revenue increased by over 7% to $542.2 million, surpassing analysts’ estimates. The annual subscription value plus professional services also saw growth, reaching $2.18 billion. The user count rose by 17,111 to 207,083, primarily due to an increase in wealth management users. FactSet remains focused on its competitive offerings, including AI, as it continues to monitor evolving market conditions.

Public Companies: FactSet Research Systems (FDS)
Private Companies:
Key People: Linda Huber (Chief Financial Officer)

Track all markets on TradingView

Factuality Level: 8
Justification: The article provides specific financial figures and quotes from the Chief Financial Officer, which adds credibility to the information presented. The information is also consistent with the company’s financial report.

Noise Level: 7
Justification: The article provides financial information about FactSet Research Systems’ revenue and earnings in its fiscal first quarter. It includes details about the profit, adjusted earnings, and revenue, as well as the increase in user count. However, it lacks analysis, context, and any mention of long-term trends or antifragility. It also does not hold powerful people accountable or provide actionable insights or solutions.

Financial Relevance: Yes
Financial Markets Impacted: FactSet Research Systems, a financial data and analytics company, posted higher revenue and earnings in its fiscal first quarter. This may impact the financial markets as it indicates increased usage of their data platform by wealth-management users.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article does not mention any extreme events or their impact.

Reported publicly: www.marketwatch.com