- FactSet Research Systems Inc (NYSE:FDS) reported second-quarter FY22 revenue growth of 10% year-on-year to $431.1 million, beating the consensus of $426.4 million.
- Organic Annual Subscription Value (ASV) plus professional services grew 9.4% Y/Y to $1.7 billion at February 28, 2022.
- ASV plus professional services were $1.8 billion on February 28, 2022, compared with $1.6 billion a year ago.
- Adjusted EPS of $3.27 beat the consensus of $2.97.
- Adjusted operating margin improved 110 bps to 33.7%.
- FactSet generated $122 million in operating cash flow and held $773 million in cash and equivalents.
- CEO Phil Snow said, "Demand for differentiated content remains strong, which we intend to build upon with our leading open content and analytics platform. In addition, we welcome the CGS business to FactSet, which will continue to advance our data management strategy."
- Outlook: FactSet raised its FY22 revenue outlook from $1.705 billion - $1.720 billion to $1.80 billion - $1.83 billion, above the consensus of $1.74 billion.
- FactSet raised adjusted EPS guidance from $12.00 - $12.30 to $12.75 - $13.15, above the consensus of $12.55.
- Price Action: FDS shares closed lower by 2.05% at $426.89 on Wednesday.
