Wednesday, 20 December 2023

Earnings Summary: A snapshot of FactSet’s Q1 2024 report

by Rose White

FactSet Research Systems Inc. (NYSE: FDS), a leading provider of data analytics services, announced financial results for the first quarter of 2024, reporting higher revenues and adjusted profit.

Earnings Summary: A snapshot of FactSet’s Q1 2024 report

  • Q1 revenue increased 7.4% annually to $542.2 million from $504.8 million in the prior-year period
  • Organic revenue moved up 7.2% year-over-year to $541.4 million, aided by higher Wealth and data sales
  • Earnings, on a per-share basis, rose 9.1% to $3.84 in Q1 from $3.52 for the same period in fiscal 2023
  • Adjusted earnings were $4.12 per share in the November quarter, vs. $3.99 per share last year
  • First-quarter net income came in at $148.6 million, compared to $136.8 million in the year-ago period
  • Operating margin, on a reported basis, was 34.9% in the November quarter, up around 80 bps year over year
  • EBITDA increased to $219.0 million, up 9.3%, in the first quarter from $200.4 million in Q1 2023

The post Earnings Summary: A snapshot of FactSet’s Q1 2024 report first appeared on AlphaStreet.

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