ADP beat analyst expectations with $5.25B in Q3 revenues and $2.88 EPS. EBIT and net earnings also increased. FY24 outlook includes 6-7% revenue growth and 10-12% EPS growth. Stock gained 12% in past year.
Automatic Data Processing, Inc (NASDAQ:ADP) reported fiscal third-quarter 2024 revenues of $5.25 billion, beating the analyst consensus of $5.23 billion. Revenues increased 7% Y/Y. The company reported quarterly adjusted EPS of $2.88, beating the analyst consensus of $2.79. The stock price gained after the print. Adjusted EBIT increased 12% to $1.5 billion, and adjusted EBIT margin increased 140 bps to 29.3%. Net earnings increased 14% Y/Y to $1.2 billion, and adjusted net earnings increased 13%
BlackRock, Inc. reported strong first-quarter results, with revenue up 11%, net inflow of $57 billion and adjusted EPS beating consensus. AUM increased to $10.5 trillion.