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FactSet's fiscal Q1'18 net income grows YOY

FactSet Research Systems Inc. reported GAAP net income of $70.4 million, or $1.77 per share, for the first quarter of fiscal 2018, compared to $66.6 million, or $1.66 per share, in the year-ago quarter.

Adjusted net income for the most recent quarter increased year over year to $80.9 million, or $2.04 per share, compared to $70.1 million, or $1.75 per share.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was $1.98.

The company also issued guidance for fiscal 2018 and expects GAAP revenues of $1.34 billion to $1.36 billion, GAAP EPS of between $7.60 and $7.80, and adjusted EPS in the range of $8.25 and $8.45.

The S&P Capital IQ consensus normalized EPS estimate for fiscal 2018 is $8.20.

The adjusted EPS outlook for 2018 includes an estimated impact of 26 cents from the adoption of an accounting standard update, which impacts the accounting for employee share-based payment transactions.