ADP reports profit that beats analysts' expectations

ROSLAND – Automated Data Processing Corp. (NASDAQ: ) reported modest third-quarter profit growth, with adjusted earnings of $2.88 per share, beating analysts' expectations of $2.79. The company's revenue also rose slightly, to $5.25 billion, slightly above the consensus estimate of $5.23 billion.

After the financial report was released, the company's stock price fell slightly by 1%, indicating a mild market reaction. ADP's guidance for future periods expects adjusted earnings per share to grow 10% to 12% and revenue to grow 6% to 7%. In addition, the company expects new bookings for employer services to grow by 4% to 7%.

Despite the lackluster market reaction, the company's results showed that its growth trajectory is continuing. ADP's third-quarter results reflected consistent execution of its business strategy, as evidenced by the reported numbers being slightly above analysts' expectations. The company's guidance shows confidence in its ability to maintain growth in the near term.

ADP's chief executive commented on the results in a statement, stressing the company's commitment to delivering shareholder value and expressing optimism about the future. “Our third quarter results demonstrate the strength and resilience of our business model. We remain focused on innovating and delivering exceptional service to our customers, which we believe will continue to drive our success,” the CEO said.

Investors and stakeholders will be watching closely to see whether ADP can maintain its growth momentum based on its positive guidance for the coming quarters.

This article was generated with the support of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.

3rd party advertising. Not an offer or recommendation by disclosures here or
Remove ads

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *