FactSet Research Systems (NYSE:FDS) fell in premarket trading after the financial data firm reported fiscal first quarter profit that trailed market expectations.
Shares decreased as much as 1.8% as of 9:06 a.m. in New York. The stock had gained 20% so far this year.
Net income rose to $60mln, or $1.43 per diluted share, in the quarter ended November 30, from $55.9mln, or $1.32 per diluted share, in the year-earlier period, the Norwalk, Connecticut-based company said in a statement on Tuesday.
Adjusted earnings were $1.44 per share, missing hte $1.47 average estimate of 12 analysts polled by Capital IQ.
Revenue increased to $270.5mln from $242.7mln year-over-year.
That result also fell short of the Wall Street consensus of $272.3mln
FactSet said it expects revenue in the range of $280mln to $286mln for the current quarter ending in March.