Automatic Data Processing Inc. Q1 Profit Increases, beats estimates

Automatic Data Processing Inc. (ADP) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $779.0 million, or $1.87 per share. This compares with $700.5 million, or $1.65 per share, in last year's first quarter.

Excluding items, Automatic Data Processing Inc. reported adjusted earnings of $775.4 million or $1.86 per share for the period.

Analysts on average had expected the company to earn $1.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.2% to $4.22 billion from $3.83 billion last year.

Automatic Data Processing Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $779.0 Mln. vs. $700.5 Mln. last year.
-EPS (Q1): $1.87 vs. $1.65 last year.
-Analyst Estimate: $1.79
-Revenue (Q1): $4.22 Bln vs. $3.83 Bln last year.

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