ADP Raises 2022 Guidance
April 27 2022 - 8:41AM
Dow Jones News
By Stephanie Lai
Automatic Data Processing Inc. on Wednesday raised its full-year
revenue and adjusted earnings guidance, citing momentum in
bookings.
The Roseland, N.J.-based human resources management software
company said it expects revenue growth of 9% to 10% for the year,
up from its previously issued guidance of 8% to 9%. ADP reported
full-year 2021 revenue of $15 billion.
The company said it expects full-year adjusted earnings growth
of 15% to 17%, up from 12% to 14% previously.
"Our new guidance anticipates solid revenue and bookings growth
and improved profitability supported by growth in pays-per-control,
further gains in sales productivity, and a continued disciplined
approach to expenses," Chief Financial Officer Kathleen Winters
said.
The company on Wednesday reported adjusted earnings of $2.21 a
share on revenue of $4.51 billion for its third quarter.
Write to Stephanie Lai at stephanie.lai@wsj.com
(END) Dow Jones Newswires
April 27, 2022 09:26 ET (13:26 GMT)
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