<p>FactSet (NYSE: FDS) earnings for the second quarter of 2020 have FDS shares gaining momentum on Thursday. This is thanks to the adjusted earnings per share (EPS) of $ 2.55, which is better than the Wall Street estimate of $ 2.49. However, the financial data and software company’s revenue of $ 369.78 million is lower than analysts’ estimates of $ 370.08 million.
Source: katjen / Shutterstock.com
Let us now take a closer look at the latest FactSet performance report.
Adjusted earnings per share increased by 5.37% compared to $ 2.42 during the same period last year. Revenue was 4.19% higher than the $ 354.9 million reported in the second quarter of 2019. Operating profit of $ 106.26 million is a decrease of 2.24% compared to the previous year from $ 108.69 million. The FactSet revenue report also has a net profit of $ 88.69 million. This is an increase of 4.71% compared to its net profit of $ 84.7 million in the same period last year.
Phil Snow, CEO of FactSet, said the following about FDS share income:
“We developed well during our second quarter and continued to successfully implement our three-year investment plan. However, I am most proud of how the FactSet community has come together to support its members and our customers during this challenging period. While we continue to exercise caution for the rest of the year due to the increased impact and uncertainty surrounding the coronavirus pandemic, our commitment to our team and our customers is absolute. ”
The FactSet revenue report includes its outlook for the 2020 financial year. This expects an adjusted earnings per share between $ 9.85 and $ 10.15 on revenue between $ 1.49 billion and $ 1.50 billion. Wall Street’s estimate for adjusted EPS is $ 10.02 on revenue of $ 1.49 billion.
The FDS share increased by 10.67% as of Thursday afternoon.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/03/factset-earnings-fds-stock-soars/.
© 2020 InvestorPlace Media, LLC