ADP 2Q Earnings Up 17% on New Bookings
25 January 2023 - 11:52PM
Dow Jones News
By Rob Curran
Payroll-services company Automatic Data Processing said its
fiscal second-quarter earnings rose 17% and reiterated its
projections for fiscal 2023 earnings per share and revenue growth
amid new orders and client retention.
For the quarter ended Dec. 31, ADP posted fiscal second-quarter
earnings of $813.3 million, or $1.95 a share, up from $694.4
million, or $1.65 a share, a year earlier. On an adjusted basis,
ADP posted second-quarter earnings of $1.96 a share.
Revenue rose 9% to $4.39 billion.
For the fiscal year ending in June, ADP backed prior projections
for adjusted earnings-per share growth of 15% to 17% and revenue
growth in a range of 8% to 9%.
Chief Financial Officer Don McGuire cited "strong results in new
business bookings, client revenue retention" and other factors for
the growth.
Shares were down 0.16% at $238.99 each pre-market.
(END) Dow Jones Newswires
January 25, 2023 07:37 ET (12:37 GMT)
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