(RTTNews) - Shares of human capital management solutions provider Automatic Data Processing, Inc. (ADP) are rising more than 7% Wednesday morning on better-than-expected first quarter results. The company also raised its full-year outlook.
Automatic Data Processing reported adjusted earnings of $1.41 per share in the first quarter compared with $1.34 per share in the same quarter a year ago. On average, 17 analysts polled by Thomson Reuters were expecting earnings of $0.98 per share.
Revenue for the quarter decreased 1% to $3.47billion. The consensus estimate was for $3.28billion.
For the full year, the company expects Revenue decline of 1% to growth of 1% up from a decline of 4% to decline of 1%, guided earlier. Analysts see a revenue decrease of $2.9% for the period.
Automatic Data Processing shares are at $157.42 and have traded in the range of $103.11- $182.32 in the past 52 weeks.
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