Correction: FactSet Guides FY23 Adj. EPS In Line With Estimates; Q4 Adj. EPS Misses View

correction: corrects headline to say Q4 misses estimates

While reporting financial results for the fourth quarter on Thursday, FactSet Research Systems, Inc. (FDS) initiated its earnings and revenue outlook for the full-year 2023.

For fiscal 2023, the company now projects earnings in a range of $12.70 to $13.10 per share and adjusted earnings in a range of $14.50 to $14.90 per share on revenue between $2.100 billion and $2.115 billion.

On average, analysts polled by Thomson Reuters expect the company to report full-year earnings of $14.76 per share on revenues of $2.04 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, net income increased to $104.42 million or $2.69 per share from $101.06 million or $2.63 per share in the prior-year quarter. Excluding items, net income was $3.13 per share, compared to $2.88 per share last year.

Revenue for the quarter increased 21.2 percent to $499.30 million from $411.89 million in the same quarter last year. Organic revenues grew 9.8 percent to $452.5 million.

The Street was looking for earnings of $3.20 per share on revenues $487.81 million for the quarter.

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