Broadridge Financial Q3 Results Beat View; Backs Annual Targets - Quick Facts

By RTT News, 
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(RTTNews.com) - Broadridge Financial Solutions, Inc.'s ( BR ) third-quarter GAAP net earnings improved by 17% to $51 million, or $0.41 per share, from $43 million, or $0.35 per share, last year. Quarterly non-GAAP earnings amounted to $55 million, or $0.44 per share. On average, 5 analysts polled by Thomson Reuters expected earnings per share of $0.40 for the quarter. Analysts' estimates typically exclude one-time items.

Driven by higher recurring fee revenues of around $32 million, or 9%, total revenues grew 5% year-on-year to $606.3 million from $576.7 million, while 6 analysts estimated revenues of $593.31 million for the quarter.

The company's President and Chief Executive, commented, "Our performance reflects the consistent, successful execution of our growth strategy and was primarily driven by our strong recurring revenue, including Net New Business gains in both business segments and ongoing favorable market-based activities."

Looking ahead, the firm confirmed its fiscal 2014 adjusted earnings per share guidance of $2.15 to $2.25, reported earnings per share view of $2.03 to $2.13, and total revenue growth forecast of 4% to 5%. Analysts project earnings of $2.24 per share on revenues of $2.55 billion for fiscal 2014.

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This article appears in: Earnings

Referenced Stocks: BR , TRI

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