Financial information and analytics provider FactSet Research (NYSE:FDS) has announced a better-than-anticipated set of third-quarter numbers.
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During the quarter, revenue rose 8.4% year-over-year to $529.8 million, surpassing estimates by $1.7 million. EPS at $3.79 too scaled past expectations by about $0.19. The company is witnessing gains across Analytics & Trading as well as Content & Technology verticals.
While annual subscription value (ASV) plus professional services rose to $2.1 billion from $2 billion, FactSet’s operating margin too expanded to 32.5% from 19.9% a year ago.
Looking ahead, for fiscal 2023, FactSet expects revenue to land at the lower end of its expectation between $2,080 million and $2,100 million. EPS for the year is now anticipated between $14.75 and $15.15. It had earlier guided for an EPS between $14.50 and $14.90.
Overall, the Street has a $434 consensus price target on FactSet alongside a Hold consensus rating. Shares of the company have gained nearly 7.2% over the past month.
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