FactSet Research Systems Inc reported first-quarter FY22 revenue growth of 9.4 percent year-on-year to $424.7 million, beating the consensus of $419.1 million.
Higher sales of analytics and research and advisory solutions drove the growth. Organic revenues grew 9.1 percent Y/Y to $423.2 million.
Annual Subscription Value (ASV) plus professional services were $1.7 billion on November 30, 2021, compared with $1.6 billion on November 30, 2020.
Adjusted EPS increased 12.8 percent Y/Y to $3.25, above the consensus of $2.99.
Adjusted operating margin decreased 70 bps to 33.6 percent, reflecting increased infrastructure expenses and data costs.
FactSet generated $72.9 million in operating cash flow and held $708.9 million in cash and equivalents.
Outlook
FactSet reaffirmed its outlook for FY22 revenue of $1.705 billion—$1.720 billion, below the consensus of $1.95 billion.FactSet sees adjusted EPS of $12.00—$12.30 versus the consensus of $12.22.
