- FactSet Research Systems Inc (NYSE:FDS) reported second-quarter FY23 sales growth of 19.5% year-on-year to $515.09 million, marginally missing the consensus of $515.47 million.
- Organic Annual Subscription Value (ASV) plus professional services was $1.9 billion on February 28, 2023, up 9.1% Y/Y.
- Adjusted EPS of $3.80 beat the consensus of $3.69.
- GAAP operating margin of 32.9% expanded 430 bps Y/Y. Adjusted operating margin expanded by 330 bps to 37%.
- FactSet held $477.3 million in cash and equivalents.
- Adjusted EBITDA increased 35.8% to $199.7 million.
- “We are pleased with our second-quarter results, reflecting the continued strength of our diverse product portfolio,” said Phil Snow, CEO of FactSet. “Our digital platform has allowed us to successfully navigate a challenging operating environment and meet the increased demand for our data and technology.”
- FactSet had suspended share repurchases, except for potential minor repurchases to offset dilution from grants of stock options, until at least the second half of FY23 to prioritize debt repayment.
- FY23 Outlook: FactSet cuts FY23 revenue outlook to $2.080 billion – $2.100 billion, down from the prior $2.100 billion – $2.115 billion, against the consensus of $2.09 billion.
- FactSet reiterates adjusted EPS guidance of $14.50 – $14.90 versus the consensus of $14.89.
- Price Action: FDS shares closed lower by 0.85% at $415.65 on Wednesday.
Thomson Reuters and Blackstone Sign Definitive Agreement To Sell Shares Of London Stock Exchange Group plc To Microsoft
Thomson Reuters (NYSE:TRI) today announced that it and certain investment funds affiliated with Blackstone have agreed to sell shares in London Stock Exchange Group plc ("LSEG") that they co-own to Microsoft.
