FactSet shares rose during pre-market trading, following news of its fiscal third-quarter earnings beat.
The financial data services company reported earnings of $2.62 per share, which surpassed analysts’ estimates of $2.36 per share. The figure also reflects a +20.2% increase from the same quarter in the prior year.
Revenue of $364.5 million also came in higher compared to the Street expectations of $359.25 million.
According to CEO Phil Snow, FactSet’s performance reveals resilience of the company’s long-term strategy in the face of sector and industry headwinds. Snow emphasized on the company’s connected data and technology solutions as being appreciated by clients.
FactSet also announced a hike in its quarterly dividend by 12.5% to 72 cents per share - marking the 14th consecutive year of its dividend raise.
It has also approved a $210 million addition to its current share buyback program.