Reported 1 day ago
Automatic Data Processing (ADP) reported stronger-than-expected revenue for the second quarter, driven by heightened demand for its payroll and employee management services from small and medium-sized businesses. The company saw an 8% increase in revenue to $5.05 billion, surpassing estimates of $4.97 billion, with its PEO segment generating $1.66 billion compared to the expected $1.64 billion. ADP, which acquired WorkForce Software for $1.2 billion to enhance its competitive edge, also posted adjusted earnings of $2.35 per share, exceeding estimates of $2.29.
Source: YAHOO