Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of financial information gatherer FactSet Research Systems
So what: Revenue in the quarter added up to $199.4 million, slightly topping the market's expectations of $198.2 million. The bottom-line non-GAAP profit rose by 12.3% over last year to $52.2 million, or $1.14 per share, also besting the consensus estimate of a buck.
Now what: It gets better: FactSet forecasted a strong third-quarter profit a healthy head above what analysts were looking for. Third-quarter earnings are expected to be in the range of $1.14 to $1.16 per share, while analysts were looking for just $1.02 per share. The company's annual subscription value grew 11% to $803 million, with 81% of that coming from buy-side clients.
Interested in more info on FactSet Research Systems? Add it to your watchlist by clicking here.
Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Motley Fool newsletter services have recommended buying shares of FactSet Research Systems. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
FactSet Starts Fiscal 2018 Strong, but Slower Sales Growth Worries Investors
The financial services provider's better-than-expected earnings growth wasn't enough to prevent a share price stumble.
FactSet Research Sees Big Opportunities for Future Growth
Organic growth and acquisition-led advances helped push the financial services provider's results higher.
Integrating Acquisitions Pushes FactSet Forward
The financial services provider continues to take advantage of favorable industry conditions.