FactSet Research Systems Inc. (NYSE:FDS) reports 1Q19 Profit Up 15%; Beats Street View

FactSet Research Systems Inc. (NYSE:FDS) reported net income of $ 84.30 million or per share of $ 2.17 for the first quarter.

The company delivered revenue of $ 351.64 million for the same period representing year-over-year growth of 7 percent that exceeded street analysts expectation by $ 2 million.

However, on an adjusted basis, FactSet Research Systems Inc. reported adjusted net income of $ 2.35 a share for the same period that exceeded market expectations.

Analysts polled by Thomson Reuters expected FactSet Research Systems Inc. to report income of $ 2.29 per share on revenue of $ 350.04 million for the first quarter. Analysts estimate normally exclude one time gain or loss.

Phil Snow, CEO, commented, We are pleased with our first quarter results and are encouraged by continued demand for our data and technology offerings. Our strategy to provide open and flexible solutions positions us well for another successful year of growth.

At the same time, FDS anticipates full year 2019 earnings of $9.45 and $9.65 per share, where as revenue for the full year expected to be $1.41 billion to $1.45 billion.