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FactSet Reports Q3 Earnings Beats, Shares Rise

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Financial data company FactSet Research Systems (NYSE: FDS) reported quarterly earnings of $2.62 per share, which beat the analyst consensus estimate of $2.36. This is a 20.18% increase over earnings of $2.18 per share from the same period last year.

The company reported quarterly sales of $364.5 million, which beat the analyst consensus estimate of $359.25 million. This is a 7.23% increase over sales of $339.911 million the same period last year.

The company also added $210 million to its buyback.

“FactSet’s ability to perform well this year amid sector and industry headwinds serves as a proof point that our long-term strategy is working,” said Phil Snow, FactSet CEO. “We are encouraged that our smarter, connected data and technology solutions continue to resonate with clients as we help them drive efficiency and increase value in an ever-changing environment.”

FactSet shares traded higher by 4% to $305.06 in Tuesday's pre-market session, just below the stock's 52-week high.

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