Man, but FactSetResearch
So here we have another ho-hum excellent quarter. Revenue was up better than 24%, with reported operating income up 13% and net income up about 7%. Turning to numbers not following generally accepted accounting principles, though, operating income growth jumps to nearly 24% and net income growth exceeds 26%.
Now here's where the "FactSet is boring" theme becomes more of a problem -- my editors wouldn't be too thrilled if I just signed off on FactSet after a two-paragraph discussion.
Let's talk a bit, then, about what the future might hold for FactSet. Regular folks might not really appreciate the investment information empire that Bloomberg has built for itself, but those terminals (or data feeds offered through regular computers) are seemingly everywhere on Wall Street. Given that those feeds aren't cheap, that's a lot of potential revenue every quarter.
And though I haven't been on a trading floor in a little while, FactSet has been doing a good job of increasing its own penetration as well. Not only does it continue to add subscribers and users, but the company continues to expand its offerings -- and if you can get a subscriber to add another service, that's very profitable revenue. It also doesn't hurt that FactSet's data and customer service are as good as the company itself.
Though I'm not really worried about competition from Bloomberg, Reuters
In the meantime, though, I'm planning on continuing to watch this story develop. It's always fun to see a well-run company with good products succeed and grow its business.
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Fool contributor Stephen Simpson has no financial interest in any stocks mentioned (that means he's neither long nor short the shares).