Broadridge Financial Solutions Inc. reported an increase in its third-quarter earnings compared to the same period last year. However, the figures didn't meet the estimates projected by Wall Street.
The net income of the company reached $213.7 million, translating to $1.79 per share. This is an increase compared to the previous year's third quarter, where the company made $198.5 million or $1.67 per share.
When excluding certain items, the adjusted earnings of Broadridge Financial Solutions Inc. for the period were $266.8 million or $2.23 per share.
On average, analysts had predicted that the company would earn $2.24 per share, as per the data compiled by Thomson Reuters. It should be noted that analysts' predictions usually exclude special items.
As for the revenue, the company saw a 4.8% rise for the quarter, reaching $1.73 billion up from $1.65 billion last year.
In terms of the company's GAAP (Generally Accepted Accounting Principles) earnings at a glance for the third quarter, it revealed:
- Earnings of $213.7 million compared to $198.5 million last year.
- Earnings Per Share (EPS) of $1.79 compared to $1.67 last year.
- Revenue of $1.73 billion compared to $1.65 billion last year.
