Wed, Jul 3, 11:27 AM (66 days ago)
FactSet Research Systems Inc. reported strong financial performance for the quarter ended May 31, 2024. Revenues increased by 4.3% year-over-year to $552.7 million, driven by a 4.5% rise in organic revenues. The Americas segment led the revenue growth, followed by EMEA and Asia Pacific. Operating income rose by 17.7% to $202.5 million, with an operating margin improvement to 36.6% from 32.5% in the prior year. This was attributed to higher revenues and lower employee compensation costs, partially offset by increased amortization of intangible assets and computer-related expenses. Net income increased by 17.4% to $158.1 million, and diluted EPS grew by 18.2% to $4.09. The company maintained a strong cash position with $453.1 million in cash and cash equivalents, and continued to return value to shareholders through dividends and share repurchases. FactSet remains focused on expanding its digital platform, ensuring execution excellence, and fostering a growth mindset.