ADP

Stock Alert: Automatic Data Processing Gains On Upbeat Earnings, Outlook

(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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.