2023-05-02 07:04:43 ET
- Broadridge Financial Solutions press release ( NYSE: BR ): Q3 Non-GAAP EPS of $2.05 beats by $0.02 .
- Revenue of $1.65B (+7.8% Y/Y) in-line.
- Recurring revenues increased $79 million, or 8%, to $1,082 million. Recurring revenue growth constant currency (Non-GAAP) was 9%, all organic, driven by Net New Business in GTO and ICS and Internal Growth, primarily in our ICS business.
- Event-driven revenues decreased $7 million, or 12%, to $52 million, primarily due to the decrease in volume of mutual fund proxy communications.
- Distribution revenues increased $40 million, or 8%, to $512 million, primarily driven by the impact of the postage rate increase of approximately $33 million.
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Expecting FY'23 Recurring revenue growth constant currency at higher end of 6-9% guidance range
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Reaffirming FY'23 outlook for continued margin expansion and 7-11% Adjusted EPS growth
For further details see:
Broadridge Financial Solutions Non-GAAP EPS of $2.05 beats by $0.02, revenue of $1.65B in-line