FactSet Research Systems recorded higher fourth-quarter revenue on continued demand for its artificial intelligence and data solutions.

The financial data company on Wednesday posted a fourth-quarter profit of $121.1 million, or $3.41 a share, compared with $153.6 million, or $4.03 a share, a year earlier.

Adjusted earnings per share were $4.52, compared with analyst estimates of $4.35, according to FactSet.

Revenue rose 6.3% to $634.7 million, compared with analyst estimates of $629.8 million.

Annual subscription value, which represents the revenue from all subscription services over the next 12 months, was $2.57 billion at Aug. 31, compared with $2.41 billion at the same time the year before.

FactSet attributed the results to continued momentum across its artificial intelligence and data solutions. The company said in July its use of AI has helped it bring in more sales, and allowed it to trim its workforce.

The company also said its signing longer contracts with its existing enterprise customers, with its average renewal contract length increasing by 30% in the quarter.

For the year ahead, FactSet expects adjusted earnings per share of $19.25 to $19.65 and revenue of $2.6 billion to $2.63 billion.

Analyst forecast adjusted earnings of $19.76 a share on revenue of $2.61 billion.