FactSet Raises Earnings Outlook After IDMS Acquisition Completed

By Tomi Kilgore Markets MarketWatch Pulse

FactSet Research Systems Inc. raised Friday its earnings outlook for the fiscal third quarter ending in May, following the completion of the acquisition of Interactive Data Managed Solutions (IDMS) from NYSE parent Intercontinental Exchange Inc. . The provider of financial information and data said it now expect adjusted earnings of $1.81 to $1.87, up from previous guidance of $1.80 to $1.86, and compared with the FactSet consensus of $1.83. The revenue outlook was raised to $311 million to $317 million from $301 million to $307 million, compared with the FactSet consensus of $304.7 million. FactSet said IDMS is expected to add about $10 million to third-quarter revenue. The stock, which is still inactive in premarket trade, has tacked on 0.9% year to date, while the S&P 500 as gained 5.5%.

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