FactSet Beats Earnings

The stock market is down again this morning. If this holds up, it will be our sixth losing session in the last seven days. The S&P 500 is now down for the year.

This morning’s jobless claims report came in at 870,000. That was worse than expectations of 840,000.

Also this morning, FactSet (FDS) reported very good fiscal Q4 earnings this morning. Adjusted EPS rose 10.3% to $2.88. Wall Street had been expecting $2.54 per share.

“We executed well on our second-half pipeline to end our fiscal year in a strong position,” said Phil Snow, FactSet CEO. “I am proud of our team’s performance and remain confident in our investment plan. Our programs in content and technology are expanding the universe of knowledge our clients trust and meeting demand for the workforce of the future.”

For the year, adjusted diluted EPS increased 8.7% to $10.87. FactSet has increased its earnings for the last 24 years in a row.

For the coming year, FactSet expects earnings to range between $10.75 and $11.15 per share. The stock has been up as much as 6% this morning.

Posted by on September 24th, 2020 at 9:50 am


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