ADP: Fiscal 1Q Earnings Snapshot
ROSELAND, N.J. (AP) _ Automatic Data Processing Inc. (ADP) on Wednesday reported fiscal first-quarter profit of $582.4 million.
On a per-share basis, the Roseland, New Jersey-based company said it had profit of $1.34.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The payroll and human resources company posted revenue of $3.5 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $3.51 billion.
ADP shares have climbed 24% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%. The stock has increased 20% in the last 12 months.