FactSet Q3 GAAP Profit Declines to $3.50/Share Despite Revenue Growth
FDS sits 21% above its 52-week low of $185.
Summary
FactSet reported a decline in GAAP net profit for Q3, with earnings totaling $126.7 million ($3.50 per share), down from $148.5 million ($3.87 per share) last year. This occurred despite a 6.4% rise in revenue to $622.9 million and adjusted earnings of $4.53 per share. This follows earlier reports highlighting strong Q3 adjusted EPS and revenue growth that beat analyst estimates. The GAAP profit decline reflects higher operating expenses, partially offset by revenue growth and a lower share count. While adjusted earnings beat expectations, the GAAP profit decline indicates underlying cost pressures or non-recurring items impacting the company's reported profitability, which traders would need to consider for a complete financial picture.
At the time of this announcement, FDS was trading at $223.00 on NYSE in the Finance sector, with a market capitalization of approximately $8.4B. The 52-week trading range was $185.00 to $453.41. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.