FactSet (NYSE: FDS) (NASDAQ: FDS) has announced first quarter financial results ended November 30th, 2020. Revenue for the quarter rose 5.9% USD 21.5 Million to USD 388.2 Million. This was primarily due to higher sales of analytics and content and technology solutions. Professional services and Annual Subscription Value reached USD 1.56 Billion compared to USD 1.48 Billion in the same period a year ago. Operating margin rose 31.2% compared with 30.9% in the same period last year.
“We have more conviction in our end markets than we did when we started the fiscal year,” said Phil Snow, FactSet CEO. “Our pipeline remains robust, built on the investments we are making in content and technology. The number and depth of conversations we are having with our largest clients around digital transformation, and how we can help streamline their workflows, position us well as we enter our second quarter.”
“We continue to execute our plan diligently, with increased productivity and lower discretionary spend helping to fund our investment plans,” said Helen Shan, FactSet CFO. “We remain confident in our ability to deliver on both our annual targets and sustainable shareholder value, even through this period of pandemic uncertainty.”
The company repurchased a total of 131,800 shares of its common stock for USD 43.1 Million at an average value of USD 327.35 during the first quarter under the company’s existing share repurchase program. As of today December 21st, 2020, USD 216 Million is available for share repurchases.