Some investors woke up happy this morning as they found that Facset had posted better than expected quarterly revenue. According to Business Insider:
The company said its revenue rose 13.7percent to $326.6 million in the fourth quarter ended Aug. 31. Analysts on average had expected $325.3 million, according to Thomson Reuters I/B/E/S.
The news helped Facset’s stock jump up more than %4.5 by early Tuesday afternoon. The growth has been even greater going back five days, making this a real winner of a week for Facset.
Norwalk, Connecticut-based FactSet has been introducing services such as portfolio analysis, online data on different asset classes, research and trading services through acquisitions as it seeks to widen its customer base beyond its traditional clientele of desktop users.
It will be interesting to see if the company can maintain this momentum going into the next quarter. Investors should keep an eye out for this stock, it may be another winner in the tech industry.
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