FactSet Research Systems Inc. posted second-quarter fiscal 2022 results that surpassed analysts’ expectations.
The financial data company’s adjusted earnings rose +20.2% from the year-ago quarter to $3.27 a share, exceeding the Zacks Consensus Estimate by 10.5%.
Revenues climbed +10% year-over-year to $431.1 million in the quarter also surpassed the Zacks Consensus Estimate by 1%. The increase was driven by higher sales of analytics, and research and advisory solutions.
Organic revenues rose +9.9% year over year to $430.8 million. Organic revenue growth from Americas, EMEA and Asia Pacific was 10.3%, 9.5% and 13.7%, respectively.
The company’s annual Subscription Value (“ASV”) plus professional services increased +9.5% year over year. Buy-side and sell-side ASV growth rates were +8.4% and +12.6%, respectively. Organic ASV plus professional services were up +9.4% from the prior-year quarter. Almost 84% of organic ASV was generated by buy-side and the rest by sell-side firms.