By Dave Sebastian and Allison Prang

 

Automatic Data Processing Inc. (ADP) reported higher profit for the fiscal second quarter as revenue rose.

The Roseland, N.J., payroll processor posted net income of $651.6 million, or $1.50 a share, compared with $558.2 million, or $1.27 a share, in the comparable quarter a year earlier. Adjusted earnings were $1.52 a share, up 13% from the prior year.

Analysts polled by FactSet were expecting $1.44 a share, or $1.45 a share on an adjusted basis.

Revenue was $3.67 billion for the quarter, compared with $3.49 billion in the same period last year. Analysts were expecting $3.69 billion.

 

Write to Dave Sebastian at dave.sebastian@wsj.com and Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

January 29, 2020 07:46 ET (12:46 GMT)

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