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Financial data firm FactSet beats profit estimate on analytical tools demand
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Financial data firm FactSet beats profit estimate on analytical tools demand
Mar 20, 2025 4:24 AM

March 20 (Reuters) - FactSet beat analysts'

estimate for second-quarter profit on Thursday, as robust demand

for its financial data and analytics services drove subscription

growth at the company.

Demand for market analytical tools has risen as investors

try to navigate delayed prospects of interest rate cuts and

rising uncertainty over the economic impact of the Trump

administration's trade, immigration and fiscal policies.

The company's organic annual subscription value - which

indicates the revenue potential for the next 12 months from

subscription services - rose 4.1% to $2.28 billion during the

quarter.

On an adjusted basis, FactSet posted a per-share profit of

$4.28 for the quarter ended February 28, compared with $4.22 a

year earlier and analysts' average estimate of $4.16, according

to data compiled by LSEG.

Its revenue rose 4.5% to $570.7 million.

Last month, the Norwalk, Connecticut-based company acquired

trade management platform LiquidityBook, which offers global

broker-market connectivity for hedge funds, asset managers and

sell-side firms, for $246.5 million in cash.

During the second quarter, FactSet also launched Pitch

Creator, an artificial intelligence-powered presentation creator

tool for junior bankers.

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