Broadridge Financial Solutions, Inc. (BR - Free Report) is gaining from its strong business model and strategic acquisitions. The company’s strong liquidity position and shareholder-friendly policies are praiseworthy. The rising cost has been pressuring Broadridge’s bottom line.
Broadridge Financial Solutions, Inc. reported mixed third-quarter fiscal 2023 results with earnings beating the Zacks Consensus Estimate but revenues missing the same. Adjusted earnings of $2.05 per share beat the consensus mark by 2% and increased 6.2% year over year. Total revenues of $1.65 billion missed the consensus mark by a slight margin but were up 7.3% year over year. Recurring revenues of $1.08 billion increased 8% from the year-ago quarter’s level. The company generated closed sales of $62 million in the quarter, up 8% year over year.
Current Situation of Broadridge
Broadridge’s strong business model, which enables it to earn recurring revenues, includes contributions from net new business, internal growth and acquisition-related synergies. Revenues for fiscal 2022, 2021 and 2020 were $5.71 billion, $4.99 billion and $4.53 billion, respectively, representing corresponding year-over-year growth of approximately 14%, 10% and 4%, respectively.
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Broadridge Financial Solutions, Inc. (BR - Free Report) is gaining from its strong business model and strategic acquisitions. The company’s strong liquidity position and shareholder-friendly policies are praiseworthy. The rising cost has been pressuring Broadridge’s bottom line.
Broadridge Financial Solutions, Inc. reported mixed third-quarter fiscal 2023 results with earnings beating the Zacks Consensus Estimate but revenues missing the same. Adjusted earnings of $2.05 per share beat the consensus mark by 2% and increased 6.2% year over year. Total revenues of $1.65 billion missed the consensus mark by a slight margin but were up 7.3% year over year. Recurring revenues of $1.08 billion increased 8% from the year-ago quarter’s level. The company generated closed sales of $62 million in the quarter, up 8% year over year.
Current Situation of Broadridge
Broadridge’s strong business model, which enables it to earn recurring revenues, includes contributions from net new business, internal growth and acquisition-related synergies. Revenues for fiscal 2022, 2021 and 2020 were $5.71 billion, $4.99 billion and $4.53 billion, respectively, representing corresponding year-over-year growth of approximately 14%, 10% and 4%, respectively.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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