Automatic Data Processing Fiscal Q3 EPS Beats Street

Automatic Data Processing said Wednesday its fiscal Q3 earnings were $1.31 per share, up from $1.17 per share in the same period a year ago, beating estimates of analysts polled by Capital IQ of $1.23 per share. Revenue in the quarter ended March 31 was $3.41 billion compared with $3.25 billion in the same period a year ago, just a hair shy of Capital IQ analysts’ estimates of $3.42 billion.

In addition, the company raised its quarterly dividend to $0.57 per common share from $0.53 per common share in the same period a year ago. “We were disappointed with this quarter’s 7% decline in new business bookings but we remain otherwise pleased with the underlying performance and continued resilience of our overall business and accordingly are reaffirming our full year revenue and margin guidance,” said Jan Siegmund, chief financial officer, ADP, in a press release.

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