NEW YORK, Nov. 6, 2018 /PRNewswire/ -- Broadridge Financial
Solutions, Inc. (NYSE: BR) is narrowing the estimated range of its
second quarter fiscal year 2019 total revenue.
In response to a question on its first quarter 2019 earnings
conference call and webcast held earlier today, Broadridge
indicated that the Company expects its second quarter fiscal year
2019 total revenues to be down by "single digit to low double
digits" in comparison with its reported second quarter fiscal year
2018 revenues.
The Company says instead that it expects its second quarter
fiscal year 2019 total revenues to decline by a range of 3-6%
compared to reported second quarter 2018 total revenues. This
decline is projected to be driven by a 40-50% decline in
event-driven revenues and a decline in distribution revenues,
partially offset by a 5-7% increase in recurring fee revenues,
compared to second quarter fiscal year 2018 reported results.
On its earnings conference call earlier today, the Company
reaffirmed its full fiscal year 2019 financial guidance.
About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR), a $4 billion global Fintech leader and a part of
the S&P 500® Index, is a leading provider of investor
communications and technology-driven solutions to banks,
broker-dealers, asset managers and corporate issuers globally.
Broadridge's investor communications, securities processing and
managed services solutions help clients reduce their capital
investments in operations infrastructure, allowing them to increase
their focus on core business activities. With over 50 years of
experience, Broadridge's infrastructure underpins proxy voting
services for over 50 percent of public companies and mutual funds
globally, and processes on average more than US $5 trillion in fixed income and equity trades per
day. Broadridge employs over 10,000 full-time associates in 18
countries. For more information about Broadridge, please visit
www.broadridge.com.
Investors:
Edings Thibault
Investor Relations
(516) 472-5129
Media:
Gregg
Rosenberg
Corporate Communications
(212) 918-6966
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SOURCE Broadridge Financial Solutions, Inc.