Factset Research Systems Inc (NYSE:FDS) stock fell 1.46% (As on March 22, 11:22:47 AM UTC-4, Source: Google Finance) after the company posted mixed results for the second quarter of FY 24. Annual Subscription Value (“ASV”) plus professional services was $2,208.8 million at February 29, 2024, compared with $2,096.2 million at February 28, 2023. Organic ASV plus professional services was $2,209.5 million at February 29, 2024, up 5.4% or $113.8 million year over year. Organic ASV plus professional services increased $24.9 million over the last three months.

Moreover, ASV from the Americas region was $1,415.4 million compared with ASV in the prior year period of $1,336.6 million. Organic ASV increased 5.9% to $1,415.4 million. Americas revenues for the quarter increased to $352.6 million compared with $331.1 million in the second quarter of last year. The Americas region’s organic revenues growth rate was 6.5%. ASV from the EMEA region was $557.2 million compared with ASV in the prior year period of $529.3 million. Organic ASV increased 5.0% to $557.5 million. EMEA revenues were $139.2 million compared with $132.5 million in the second quarter of fiscal 2023. The EMEA region’s organic revenues growth rate was 4.8%. ASV from the Asia Pacific region was $215.9 million compared with ASV in the prior year period of $207.1 million. Organic ASV increased 5.6% to $216.3 million. Asia Pacific revenues were $54.1 million compared with $51.5 million in the second quarter of fiscal 2023. The Asia Pacific region’s organic revenues growth rate was 6.4%.

FDS in the second quarter of FY 24 has reported the adjusted earnings per share of $4.22, beating the analysts’ estimates for the adjusted earnings per share of $3.83, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 6 percent to $546 million in the second quarter of FY 24, missing the analysts’ estimates for revenue of $547.9 million. Growth in GAAP and Organic revenues this quarter was driven by asset owners, corporates, hedge funds and private equity and venture capital clients. Adjusted operating margin improved to 38.3% compared with 37.0% in the prior year period driven by similar drivers contributing to higher GAAP operating margin, partially offset by increased bad debt expenses. Adjusted EBITDA increased to $218.1 million, up 9.2% for the second quarter of fiscal 2024 compared with $199.7 million for the same period in fiscal 2023, due to higher operating income.