Dec 18 (Reuters) - Financial data firm FactSet FDS.N posted a rise in first-quarter profit on Thursday, driven by increased demand for its financial data and analytics offerings.
Demand for FactSet's products, which help investors analyze markets, manage risk and track portfolios, has increased as clients navigate uncertainty stemming from shifting U.S. trade policies.
The company's buy-side clients, including institutional asset managers, wealth managers, asset owners, hedge funds and corporate clients, accounted for a huge proportion of its organic annual subscription value.
Its organic ASV - which indicates the revenue potential for the next 12 months from subscription services - rose 5.9% to $2.39 billion as of November 30.
On an adjusted basis, the company earned $4.51 per diluted share in the quarter, compared with $4.37 per share from the same period last year.
FactSet maintained its fiscal 2026 adjusted diluted EPS forecast in the range of $16.90 per share to $17.60 per share.
The Norwalk, Connecticut-based company's revenue rose 6.9% to $607.6 million, driven by institutional buy-side and dealmakers clients.
The stock has lost nearly 38.3% so far this year, compared with a 14.3% gain for the benchmark S&P 500 index .SPX.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Leroy Leo)
((Prakhar.srivastava2@thomsonreuters.com;))
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