By Will Feuer

 

Automatic Data Processing Inc. raised its guidance for the fiscal year 2022, saying it now expects full-year revenue to grow 8% to 9% and adjusted earnings to grow by 12% to 14%.

The company had previously forecast revenue growth of between 7% and 8% and adjusted earnings of 11% to 13%.

It expects revenue from its employer services segment to grow by about 6%, while revenue from its PEO services segment is seen growing between 13% and 15%, the company said.

The guidance is based on an adjusted effective tax rate of about 22.5%.

 

Write to Will Feuer at Will.Feuer@wsj.com

 

(END) Dow Jones Newswires

January 26, 2022 07:43 ET (12:43 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Automatic Data Processing (NASDAQ:ADP)
Historical Stock Chart
From Apr 2022 to May 2022 Click Here for more Automatic Data Processing Charts.
Automatic Data Processing (NASDAQ:ADP)
Historical Stock Chart
From May 2021 to May 2022 Click Here for more Automatic Data Processing Charts.