FactSet Research Systems Inc. (NYSE: FDS), a leading provider of data analytics services, announced financial results for the second quarter of 2024, reporting higher revenues and adjusted profit.
- Q2 revenues increased 6% to $545.9 million from $515.1 million in the prior year period. Organic revenues grew 6.0%
- Annual subscription value, plus professional services, was $2.21 billion at the end of the quarter, vs. $2.1 billion last year
- Operating margin increased to 33.3% in the second quarter from 32.9% for the same period of 2023
- Net income, on a per-share basis, increased 8% to $3.65 in the February quarter from $3.38 a year earlier, due to higher revenues and margin expansion
- Adjusted earnings per share moved up 11.1% to $4.22 in Q2 from $3.80 in the comparable period last year
- Second-quarter adjusted EBITDA was $218.1 million, up 9.2% from $199.7 million reported in Q2 2023
- The management expects organic ASV, plus professional services, to grow in the range of $110 million to $150 million
- Full-year revenues are expected to be in the range of $2.20 billion to $2.21 billion
- The company is looking for earnings in the range of $13.95 per share to $14.35 per share for 2024
- Adjusted earnings per share is expected to be between $15.60 and $16.00 in the fiscal year
