FactSet Q3 Profit Falls Short of Estimates, Names New CEO
FactSet reported a Q3 profit of $148.5 million, down from $158.1 million in the prior year, while revenue grew to $585.5 million.
FactSet Research Systems Inc. (NYSE: FDS) on Monday reported fiscal third-quarter net income of $148.5 million, a drop of $9.6 million from the same period a year ago. The Norwalk, Connecticut-based financial data and analytics firm posted earnings of $3.87 per share, or $4.27 per share adjusted for amortization and one-time items.
The adjusted results came in just below Wall Street expectations. Eight analysts surveyed by Zacks Investment Research had projected earnings of $4.31 per share.
Despite the earnings miss, FactSet’s revenue for the quarter reached $585.5 million, beating the Zacks consensus estimate of $581.3 million. Organic Annual Subscription Value (ASV) grew 4.5% year-over-year to $2.30 billion.
“We are pleased with our third quarter performance, which reflects the execution of our enterprise solution strategy. With a healthy pipeline and increased momentum, we are well-positioned to finish the fiscal year with strength,” said Phil Snow, CEO of FactSet.
In a significant leadership update, FactSet announced that Sanoke Viswanathan will take over as CEO in September 2025, succeeding Snow, who will retire from his role and the board. Snow will remain with the company as a senior advisor through the end of the calendar year.
“As FactSet prepares for its next chapter of leadership, I'm proud of the solid foundation we've established, built on innovation, client trust, and industry-leading data and workflow solutions. This platform gives me great conviction in the Company's continued success,” added Snow.
FactSet also reported a client count of 8,811 as of May 31, 2025, a net increase of 166 clients over the past quarter. The total user count rose to 220,496, driven largely by growth in wealth management users.
For the full fiscal year, FactSet reaffirmed its guidance, expecting:
FactSet's outlook remains strong as it transitions leadership and leans further into enterprise and AI-driven solutions across its client base.
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