Automatic Data Processing Inc. (ADP) recently released its second quarter earnings, which not only displayed an increase in profit from the previous year but also surpassed market forecasts.
The company declared that their earnings for this quarter amounted to $878.4 million, equated to $2.13 per share. This is a comparison to last year's second quarter earnings of $813.1 million, or $1.95 per share.
When taking into account extraneous elements, ADP reportedly observed an adjusted earnings influx of $880.5 million or $2.13 per share. The consensus among analysts, based on data gathered by Thomson Reuters, had predicted company earnings of $2.10 per share, typically excluding any special items.
Notably, the company's revenue for the quarter experienced a 6.4% increase, resulting in a total of $4.67 billion, up from $4.39 billion over the same period last year.
To summarize, ADP's earnings at a glance, based on the Generally Accepted Accounting Principles (GAAP):
- Q2 Earnings: $878.4 million, increased from $813.1 million in the same period last year.
- Q2 Earnings per Share: $2.13, increased from $1.95 in the same period last year.
- Analysts had estimated earnings per share at $2.10.
- Q2 Revenue: $4.67 billion, increased from $4.39 billion in the same period last year.
