By Stephanie Lai

 

Automatic Data Processing Inc. on Wednesday raised its full-year revenue and adjusted earnings guidance, citing momentum in bookings.

The Roseland, N.J.-based human resources management software company said it expects revenue growth of 9% to 10% for the year, up from its previously issued guidance of 8% to 9%. ADP reported full-year 2021 revenue of $15 billion.

The company said it expects full-year adjusted earnings growth of 15% to 17%, up from 12% to 14% previously.

"Our new guidance anticipates solid revenue and bookings growth and improved profitability supported by growth in pays-per-control, further gains in sales productivity, and a continued disciplined approach to expenses," Chief Financial Officer Kathleen Winters said.

The company on Wednesday reported adjusted earnings of $2.21 a share on revenue of $4.51 billion for its third quarter.

 

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

 

(END) Dow Jones Newswires

April 27, 2022 09:26 ET (13:26 GMT)

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