Factset Research Systems Inc Q4 2022 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Ashish Sabadra - RBC Capital Markets, Research Division - Analyst : Can you hear me okay? So we saw some pretty strong momentum across all 3 workflow solutions, and thanks for giving some clarity around the growth drivers going forward in terms of pricing, cross-sell and new wins. But the question that we get from -- that we are getting is around that $150 million to $180 million of ASV growth outlook in the light of the market volatility and concerns about potential layoff on investment banking and pullback on spend by asset managers. So I was wondering if you could just provide some more color on the confidence around the ASV growth for '23.

Question: Ashish Sabadra - RBC Capital Markets, Research Division - Analyst : That's very helpful color, Phil. Really appreciate that. And maybe on my follow-up, just on the margin front, particularly as we look at 3Q versus the 4Q margins. Again, Linda, you provided some really good color around reinvestment. But I was just wondering, as we think about how much of it was maybe higher compensation versus more hiring, we obviously saw a big step-up in hiring in the fourth quarter. How should we think about for -- going into 2023? And in this particular inflationary environment, how do we think about salaries and compensation going forward?