Shares of FactSet (FDS) - Get Report were down Thursday after the financial-data-aggregation company posted stronger-than-expected fourth-quarter profit but forecast fiscal 2020 results below estimates.
The Norwalk, Conn., company expects to earn $9.85 to $10.15 a share in the coming fiscal year, short of Wall Street's expectation via a FactSet survey for $10.52. On the top line the company expects revenue between $1.49 billion and $1.5 billion vs. expectations of $1.51 billion.
For the fourth quarter, the company reported earnings of $2.61 a share vs. Wall Street expectations of $2.47. Revenue came in at $364.3 million vs. the estimate of $362.6 million.
FactSet "will be accelerating critical investments over the next three years from a position of strength, capitalizing on industry trends and enhancing our core offerings," Chief Executive Phil Snow said in a statement.
FactSet shares finished down 9.3% at $245.71 on Thursday.
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