ADP Shares Up 3.2% as Earnings Top Wall Street Views
By Josh Beckerman
Automatic Data Processing shares rose 3.2% as the payroll processor reported second-quarter adjusted earnings above Wall Street estimates and said it is well-positioned for steady growth.
The stock was recently at $246.24 and is up about 9% over the past 52 weeks.
ADP's adjusted earnings were $2.13 a share, while analysts polled by FactSet expected $2.10. Revenue rose 6% to $4.67 billion.
ADP reiterated guidance for fiscal 2024 adjusted earnings growth between 10% and 12%.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
January 31, 2024 13:16 ET (18:16 GMT)
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