FactSet Research Systems Inc. (NYSE:FDS) stock fell 0.73% (As on Mar 25, 11:17:16 AM UTC-4, Source: Google Finance) after the company posted better than expected result for the second quarter of FY 22. The organic ASV plus professional services growth accelerated to 9% in the second quarter, led by growth in workstations and portfolio analytics and our capturing higher price increases in the Americas. The company also saw several large renewals, which further affirmed the strength of the offering and investments in product and content. The growth this quarter was strongest among the buy-side clients, with the biggest contributions coming from asset managers and wealth clients. All buy-side firm types experienced accelerated growth in the second quarter, with broad-based strength across all workflow solutions. The company continued to see double-digit growth from banking, wealth, hedge fund, and corporate clients, along with private equity and venture capital funds and partners. EBITDA increased to $146.8 million, up 11.1% from the same period in fiscal 2021. The free cash flow was $110 million for the quarter, a decrease of 15% over the same period last year, primarily due to higher estimated tax payments.

FDS in the second quarter of FY 22 has reported the adjusted earnings per share of $3.27, beating the analysts’ estimates for the adjusted earnings per share of $2.96, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 10 percent to $431.12 million in the second quarter of FY 22, beating the analysts’ estimates for revenue by 0.97%. Organic revenue, which excludes any impact from foreign exchange, acquisitions and deferred revenue amortization also increased 10% to $431 million. Growth was driven primarily by the research and advisory and analytics solutions. For the geographic segments on an organic basis, revenue growth for the Americas was at 10%, EMEA grew at 9% and Asia Pacific came in at 14%. Increases in research and advisory solutions provided an uplift in the Americas, while content and technology solutions was a key driver in EMEA.

The company is adjusting the fiscal 2022 guidance to reflect 8% to 9% ASV growth, expansion of the adjusted operating margin, and adjusted EPS of $12.75 to $13.15. The company’s focus remains the same to build the leading open content and analytics platform. This quarter, the company continued to scale the content refinery and enhance the client experience with personalized workflow solutions.