Business
Post Earnings Coverage as Automatic Data Processing Posted 6% Revenue Growth and Notched 20% Gain for Adjusted EPS
Upcoming AWS Coverage on Cognizant Technology Solutions Post-Earnings Results LONDON,...
About this update from Adelphi Metals Inc.
[{"type":"text","content":"Post Earnings Coverage as Automatic Data Processing Posted 6% Revenue Growth and Notched 20% Gain for Adjusted EPSUpcoming AWS Coverage on Cognizant Technology Solutions Post-Earnings Results\nLONDON, UK / ACCESSWIRE / February 14, 2017 / Active Wall St. announces its post-earnings coverage on Automatic Data Processing, Inc. (NASDAQ: ADP). The Company reported its second quarter fiscal 2017 financial results on February 01, 2017. The payroll and human resources Company surpassed earnings expectations. Register with us now for your free membership at: http://www.activewallst.com/register/.\nOne of Automatic Data Processing's competitors within the Business Software & Services space, Cognizant Technology Solutions Corp. (NASDAQ: CTSH), reported its earnings results for Q4 2016 on Wednesday, February 08, 2017. AWS will be initiating a research report on Cognizant Technology Solutions in the coming days. \nToday, AWS is promoting its earnings coverage on ADP; touching on CTSH. Get our free coverage by signing up to http://www.activewallst.com/register/. \nEarnings Reviewed\nFor the quarter ended December 31, 2016, ADP's revenues grew 6% to $2.99 billion, or 7% on a constant dollar basis, compared to revenue of $2.81 billion in Q2 FY16. The Company's revenue numbers came in slightly below analysts' consensus forecasts of $2.02 billion. The Company's combined worldwide new business bookings declined 5% on a y-o-y basis. \nDuring Q2 FY17, ADP's adjusted EBIT grew 17% to $593 million, 16% on a constant dollar basis. Adjusted EBIT margin increased about 180 basis points in the reported quarter to 19.8% driven by operational efficiencies and slower growth in its selling expenses. \nFor Q2 FY17, ADP's net earnings from continuing operations grew 50% to $511 million compared to net earnings of $341.4 million in Q2 FY16. The Company's diluted earnings per share from continuing operations increased to $1.13, representing growth of 53% on a reported and constant dollar basis compared to $0.74 per share in the year earlier comparable quarter. ADP's adjusted diluted earnings per share from continuing operations increased 20% to $0.87, 19% on a constant dollar basis, and included a $0.01 tax benefit related to the adoption of new stock-based compensation accounting guidance. The Company's earnings number surpassed analysts' consensus of $0.81...