FactSet Research Systems Inc. (NYSE:FDS) saw its stock price surge 5.32% during intraday trading on Wednesday, following the release of its third-quarter fiscal 2026 financial results that exceeded analyst expectations.
The financial data and analytics provider reported adjusted earnings per share of $4.53 for the quarter ended May 31, beating the consensus estimate of $4.46. Revenue reached $622.9 million, also surpassing expectations of $618.2 million and representing a 6.4% year-over-year increase. The company's organic annual subscription value (ASV) grew 7.1% to $2.49 billion, driven by strong demand from institutional buy-side and wealth management clients.
FactSet reaffirmed its fiscal 2026 outlook, expecting adjusted diluted EPS of $17.25 to $17.75 and revenue of $2.45 billion to $2.47 billion. The company also highlighted accelerating AI adoption, with more than 90% of its top 50 clients now using four or more AI products, and expanded partnerships with Google Cloud and other AI technology providers to enhance financial workflow solutions.