FactSet (“FactSet” or the “Company”) (NYSE:FDS) (NASDAQ:FDS), a global provider of integrated financial information, analytical applications, and industry-leading service, has announced results for its first quarter ended November 30, 2020.
First Quarter Fiscal 2021 Highlights
- Revenue increased 5.9%, or $21.5 million, to $388.2 million compared with $366.7 million for the same period in fiscal 2020. The increase is primarily due to higher sales of analytics and content and technology solutions (CTS). Organic revenues grew 5.1% to $386.7 million during the first quarter of fiscal 2021 from the prior year period.
- Annual Subscription Value (ASV) plus professional services was $1.56 billion at November 30, 2020, compared with $1.48 billion at November 30, 2019. The organic growth rate, which excludes the effects of acquisitions, dispositions, and foreign currency movements, was 5.0%. The primary contributors to this growth rate were higher sales in FactSet’s research workflow solutions offset by lower sales in wealth and analytics. Please see the “ASV + Professional Services” section of this press release for details.
- Operating margin increased to 31.2% compared with 30.9% for the same period last year. Adjusted operating margin improved to 34.3% compared with 33.9% in the prior year period primarily as a result of reduced employee-related operating expenses due to the coronavirus pandemic.
- FactSet acquired Truvalue Labs, Inc., a pioneer in AI-driven environmental, social, and governance (ESG) data, in November 2020.
“We have more conviction in our end markets than we did when we started the fiscal year,” said Phil Snow, FactSet CEO. “Our pipeline remains robust, built on the investments we are making in content and technology. The number and depth of conversations we are having with our largest clients around digital transformation, and how we can help streamline their workflows, position us well as we enter our second quarter.”
Source: FactSet Earnings Release