AP NEWS

ADP: Fiscal 1Q Earnings Snapshot

October 30, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADP at https://www.zacks.com/ap/ADP