ADP 3Q Earnings, Sales Beat Expectations

By Stephanie Lai

Automatic Data Processing Inc. reported Wednesday that third-quarter profits rose from a year earlier, as higher demand for its services lifted revenue.

The Roseland, N.J.-based human resources management software company reported earnings of $928.5 million, or $2.21 a share, compared with net earnings of $810.7 million, or $1.90 a share, a year ago.

On an adjusted basis, earnings were $2.21 a share for the three months ended March 31. Analysts were expecting $2.08 a share.

Revenue rose 10%, to $4.51 billion, from $4.1 billion in the previous year. Analysts polled by FactSet expected $4.46 billion in sales.

Selling, general, and administrative expenses rose to $817.5 million from $763 million last year, while total expenses rose to $3.3 billion from $3.05 billion, the company said.

"Our unrelenting focus remains on helping our clients adapt to the rapidly changing world of work," ADP Chief Executive Carlos Rodriguez said.

Write to Stephanie Lai at stephanie.lai@wsj.com

(END) Dow Jones Newswires

April 27, 2022 07:59 ET (11:59 GMT)

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