FactSet Research Systems Inc. (NYSE:FDS) reported its Q1 results, with adjusted EPS coming in at $3.25, compared to the consensus estimate of $2.99. The beat was primarily driven by higher revenues, lower expenses, and lower tax rate than expected.

Organic revenue grew 9.1% year-over-year to $423 million. Services revenue was $1.71 billion, up 8.9% year-over-year. With the high recurring revenue and high retention rate, the company continues to execute well across all its businesses.