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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