Automatic Data Processing 2Q Profit, Revenue Rise
January 29 2020 - 8:01AM
Dow Jones News
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
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