Shares of investment data provider FactSet Research Systems (FDS), a darling of fund managers who use its research in place of, or alongside, the Bloomberg, are collapsing today, down $8.38, or 11%, at $67.68, after the company this morning reported fiscal Q1 revenue and EPS in line, but forecast current quarter sales below estimates.
Revenue fell 0.2% to $155.2 million, the company said, just a hair below the average $155.9 million estimate, yielding profit per share of 74 cents, in line with estimates. For the current quarter, however, the company forecast sales of $154 million to $158 million, which at the midpoint is below the $158.3 million average estimate. Profit per share is expected to be 73 cents to 75 cents, a penny below estimates at the midpoint.
CEO Phil Hadley said the company’s business was “stabilizing.”
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