Outsourcing provider Automatic Data Processing ( ADP ) reported an increase in earnings for their first quarter, beating analysts expectations Thursday.
The Roseland, NJ based company reported fiscal first quarter net income of $305.3 million or 63 cents a share, up from last years earnings of $302.7 million, or 61 cents a share. Analysts had expected 62 cents a share.
The company reported revenues of $2.63 billion, up 4% from last years revenue of $2.51 billion. Reported revenue was in line with analysts estimate of $2.63 billion.
Looking ahead, ADP is expecting to see full-year growth of 5-7% for both EPS and revenue.
Automatic Data Processing shares were up $1.05, or 1.82% on Thursday morning.
Automatic Data Processing( ADP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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