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FDS NYSE· Factset Research Systems Inc
Earnings report Q4 2023

FDS Reports Strong Revenue Growth in Q1 Fiscal 2024

Segments of revenue

FDS experienced revenue growth across all segments in the first quarter of fiscal 2024. Revenues in the Americas segment increased by 7.7% to $348.4 million, accounting for 64.3% of total revenues. The EMEA segment also saw a revenue increase of 6.7% to $139.6 million, representing 25.7% of total revenues.

Strengths

FDS demonstrated strong financial performance in the latest quarter, with revenues increasing by 7.4% compared to the prior year period. This growth was primarily driven by higher demand for workstations, middle office solutions, data feeds, and CGS subscriptions. The company's focus on enhancing price realization, productivity, and efficiency, along with investments in talent and strategic partnerships, contributed to its revenue growth. Additionally, FDS's commitment to optimizing operations and managing expenses has improved returns on investments.

Challenges

While FDS experienced overall revenue growth, there were some challenges in the form of existing client cancellations. However, these cancellations were partially offset by price increases to existing clients and sales to new clients.

Noteworthy

FDS achieved a 7.2% growth in organic revenues during the first quarter of fiscal 2024 compared to the prior year period. The company also reported an increase in organic annual subscription value (Organic ASV) plus Professional Services, which totaled $2.185 billion, representing a 7.1% increase over the prior year.

Summary

FDS delivered a strong performance in the latest quarter, with revenue growth across all segments. The increased demand for workstations, middle office solutions, data feeds, and CGS subscriptions contributed to the company's overall revenue growth. FDS's focus on enhancing price realization, productivity, and efficiency, along with investments in talent and strategic partnerships, has strengthened its financial position. Despite some challenges in the form of client cancellations, FDS's revenue growth and commitment to optimizing operations and managing expenses have resulted in improved returns on investments.

Source documents

Form 10-Q  filed on Jan 05, 2024
89 pages scanned

Reference data

Company financials Q4 revenue 0
Analyst estimates Q4 EPS missed by 0.00%
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