FactSet Research Systems Inc. (NYSE:FDS) announced net income for the first quarter of $ 70.78 million or $ 1.77 per share. The company generated revenue of $ 329.14 million for the same period. While earnings per share grew 17 percent from the year-ago quarter, revenue advanced 14 percent.
On an adjusted basis, FactSet Research Systems revealed adjusted net income of $ 2.04 a share for the first quarter. This topped analysts estimate by $ 0.06 a share while revenue fell shy of street analysts expectation by $ 2 million.
Street analysts are looking for income of $ 1.98 per share on revenue of $ 330.82 million for the first quarter. Analysts estimates are from Thomson Reuters, excludes one time gain or loss.
Phil Snow, CEO said: We are making meaningful progress in integrating our new acquisitions and are excited about our expanding suite of workflow-based solutions. We enter fiscal year 2018 with strong earnings growth and we see positive ASV momentum in our second quarter.
Moving ahead, FDS expects 2018 earnings estimates in the range of $ 8.25 – $ 8.45, While revenue for the 2018 in a range of $ 1340.00 million – $ 1360.00 million. The fiscal 2018 estimates include an estimated $0.26 impact from the aforementioned accounting standard update.