FactSet misses 2Q profit forecasts

NORWALK, Conn. (AP) _ FactSet Research Systems Inc. (FDS) on Tuesday reported fiscal second-quarter profit of $61.6 million.

The Norwalk, Connecticut-based company said it had profit of $1.46 per share. Earnings, adjusted for pretax gains, were $1.39 per share.

The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.

The financial data firm posted revenue of $247.8 million in the period, surpassing Street forecasts. Nine analysts surveyed by Zacks expected $246.4 million.

For the current quarter ending in May, FactSet said it expects revenue in the range of $251 million to $256 million.

FactSet shares have risen 9.5 percent since the beginning of the year. The stock has risen 49 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FDS at http://www.zacks.com/ap/FDS


Keywords: FactSet Research, Earnings Report

Source Article from http://finance.yahoo.com/news/factset-misses-2q-profit-forecasts-113406652.html

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