FactSet delivered a solid QQ2 2024 performance with a focus on margin expansion and strategic AI-driven product initiatives despite a softer top-line environment in some segments. GAAP revenue was $545.9 million, up 6% year over year, while adjusted diluted EPS rose 11% to $4.22 and adjusted operating margin improved by 130 basis points to 38.3%. Organic ASV plus professional services grew 5.4% YoY, and ASV retention held above 95% with client retention near 90%, underscoring a highly sticky, enterprise-oriented subscriber base. The quarter featured robust demand for data solutions and middle-office to front-office integrations, aided by continued investment in GenAI capabilities (FactSet Mercury, Transcript Assistant) and an expanding managed-services footprint. Management signaled a constructive, though cautious, tone for the second half: Q3 is anticipated to be softer, while Q4 is expected to strengthen as AI-enabled workflows gain momentum and macro conditions stabilize. The company maintains guidance at the lower end of its 5-7% ASV growth range for FY2024, reflecting Credit Suisse/UBS-related uncertainty and a one-off wealth cancellation, while preserving a clear path to margin discipline and cash flow generation. Balance-sheet strength remains solid, with cash of $381.7 million and net debt of ~$1.322 billion, and the firm continues to deploy capital toward repurchases and strategic AI investments.