Financial data firm FactSet's quarterly profit climbs on steady subscription growth

Dec 18 (Reuters) - Financial ⁠data firm ⁠FactSet ‍posted a rise in first-quarter profit on Thursday, driven by increased demand ‍for its financial data and analytics ​offerings.

Demand for FactSet's products, which help investors analyze markets, ​manage risk and track portfolios, has increased as clients navigate uncertainty stemming from shifting U.S. trade policies.

The company's ​buy-side clients, including institutional asset managers, wealth managers, asset owners, hedge funds and ​corporate clients, accounted for a huge proportion of its organic ‌annual subscription value.

Its organic ASV - which indicates the revenue potential for the next ​12 months from subscription ⁠services - rose 5.9% to $2.39 billion as of November 30.

On an adjusted basis, ‌the company earned $4.51 per diluted share in the quarter, compared with $4.37 per share from the same ‌period last year.

FactSet maintained its fiscal 2026 adjusted diluted ‌EPS forecast in the range of $16.90 per share to $17.60 per share.

The Norwalk, Connecticut-based company's revenue rose 6.9% ‍to $607.6 million, driven by institutional buy-side and dealmakers clients.

The stock has ⁠lost nearly 38.3% so far this year, compared with a 14.3% gain for the benchmark S&P 500 index.

(Reporting by Prakhar Srivastava in Bengaluru; Editing by Leroy Leo)

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