UPDATE: FactSet Research FQ3 Profit Increases 11%
FactSet Research Systems (NYSE: FDS) reported an 11% rise in its fiscal third-quarter earnings.
FactSet's quarterly profit surged to $53.4 million, or $1.20 per share, versus $48 million, or $1.05 per share, in the year-ago period. Excluding one-time items, its adjusted earnings came in at $1.15 per share in the recent period.
Its revenue rose 6.1% to $214.6 million. FactSet in March had expected earnings of $1.14 to $1.16 per share on revenue of $213 million to $216 million. FactSet's operating margin narrowed to 33.4% from 33.9%.
For the current quarter, FactSet expects earnings of $1.18 and $1.21 per share on revenue of $218 million to $221 million. However, analysts were projecting earnings of $1.18 per share on revenue of $220 million.
FactSet shares declined 6.89% to $96.61 in pre-market trading.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.