ADP - ADP Clocks 26th Consecutive EPS Beat In Q2 Reiterates Financial Growth Outlook | Benzinga
Automatic Data Processing, Inc’s (NASDAQ:ADP) shares are trading higher after the company’s second-quarter revenues of $4.67 billion beat the analyst consensus of $4.66 billion. Revenues increased 6% Y/Y.
The company reported quarterly adjusted EPS of $2.13, beating the analyst consensus of $2.10.
Adjusted EBIT increased 7% to $1.1 billion, and adjusted EBIT margin increased twenty basis points to 24.6%.
Net earnings increased 8% Y/Y to $878.4 million, and adjusted net earnings increased 8% Y/Y to $880.5 million.
ADP exited the quarter with cash and equivalents worth $1.64 billion.
CEO Maria Black said, “We are focused on providing exceptional HCM products and outstanding service, and these efforts continued to drive client ...