ADP Posts Higher 2Q Sales, Profit
January 26 2022 - 7:40AM
Dow Jones News
By Will Feuer
Automatic Data Processing Inc.'s second-quarter profit and sales
rose from a year earlier, driven by growth in its professional
employment organization solutions segment.
ADP's earnings were $694.4 million, or $1.65 a share, compared
with net earnings of $647.5 million, or $1.51 a share, a year ago.
Analysts surveyed by FactSet were expecting $1.63 a share.
Revenue rose 9% to $4.03 billion. Analysts were expecting $3.98
billion, according to FactSet.
Revenue from PEO Services rose 15% from a year ago as revenue
from Employer Services--which brings in more revenue for the
company--increased 6%, the company said.
"Our revenue performance once again exceeded our expectations
with particularly strong PEO results, and we were pleased to drive
a slight margin increase even as we invested in our service and
implementation organizations as we build a strong foundation for
sustained future growth," ADP's Chief Financial Officer Don McGuire
said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
January 26, 2022 07:25 ET (12:25 GMT)
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