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Compared to Estimates, Broadridge Financial (BR) Q3 Earnings: A Look at Key Metrics
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Broadridge Financial Solutions (BR - Free Report) reported $1.73 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 4.9%. EPS of $2.23 for the same period compares to $2.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.76 billion, representing a surprise of -1.77%. The company has not delivered EPS surprise, with the consensus EPS estimate being $2.23.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Broadridge Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Revenues- Global Technology and Operations: $425.10 million versus the four-analyst average estimate of $414.68 million. The reported number represents a year-over-year change of +9.4%.
Total ICS Recurring Fee Revenues: $701.10 million versus the four-analyst average estimate of $731.04 million. The reported number represents a year-over-year change of +1.1%.
Total ICS Event- Driven Fee Revenues- Equity and other: $46 million versus $28.20 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +57.5% change.
Total ICS Event- Driven Fee Revenues- Mutual funds: $21.10 million versus $28.25 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.6% change.
Total ICS Event- Driven Fee Revenues: $67 million compared to the $56.44 million average estimate based on four analysts. The reported number represents a change of +29.3% year over year.
Distribution Revenues: $533.30 million compared to the $554.67 million average estimate based on four analysts. The reported number represents a change of +4.2% year over year.
Net revenues- Investor Communication Solutions: $1.30 billion versus $1.34 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.5% change.
Total ICS Recurring Fee Revenues- Data- driven fund solutions: $106.20 million versus $110.77 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.1% change.
Total ICS Recurring Fee Revenues- Issuer: $59.60 million compared to the $63.16 million average estimate based on four analysts. The reported number represents a change of +3.3% year over year.
Total ICS Recurring Fee Revenues- Customer communications: $190.80 million versus the four-analyst average estimate of $193.51 million. The reported number represents a year-over-year change of +1.5%.
Total GTO Recurring Fee Revenues- Capital markets: $265.80 million versus $263.53 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.1% change.
Total GTO Recurring Fee Revenues- Wealth and investment management: $159.30 million compared to the $151.15 million average estimate based on four analysts. The reported number represents a change of +11.6% year over year.
Shares of Broadridge Financial have returned -2.8% over the past month versus the Zacks S&P 500 composite's -0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Broadridge Financial (BR) Q3 Earnings: A Look at Key Metrics
Broadridge Financial Solutions (BR - Free Report) reported $1.73 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 4.9%. EPS of $2.23 for the same period compares to $2.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.76 billion, representing a surprise of -1.77%. The company has not delivered EPS surprise, with the consensus EPS estimate being $2.23.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Broadridge Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Revenues- Global Technology and Operations: $425.10 million versus the four-analyst average estimate of $414.68 million. The reported number represents a year-over-year change of +9.4%.
- Total ICS Recurring Fee Revenues: $701.10 million versus the four-analyst average estimate of $731.04 million. The reported number represents a year-over-year change of +1.1%.
- Total ICS Event- Driven Fee Revenues- Equity and other: $46 million versus $28.20 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +57.5% change.
- Total ICS Event- Driven Fee Revenues- Mutual funds: $21.10 million versus $28.25 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.6% change.
- Total ICS Event- Driven Fee Revenues: $67 million compared to the $56.44 million average estimate based on four analysts. The reported number represents a change of +29.3% year over year.
- Distribution Revenues: $533.30 million compared to the $554.67 million average estimate based on four analysts. The reported number represents a change of +4.2% year over year.
- Net revenues- Investor Communication Solutions: $1.30 billion versus $1.34 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.5% change.
- Total ICS Recurring Fee Revenues- Data- driven fund solutions: $106.20 million versus $110.77 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.1% change.
- Total ICS Recurring Fee Revenues- Issuer: $59.60 million compared to the $63.16 million average estimate based on four analysts. The reported number represents a change of +3.3% year over year.
- Total ICS Recurring Fee Revenues- Customer communications: $190.80 million versus the four-analyst average estimate of $193.51 million. The reported number represents a year-over-year change of +1.5%.
- Total GTO Recurring Fee Revenues- Capital markets: $265.80 million versus $263.53 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.1% change.
- Total GTO Recurring Fee Revenues- Wealth and investment management: $159.30 million compared to the $151.15 million average estimate based on four analysts. The reported number represents a change of +11.6% year over year.
View all Key Company Metrics for Broadridge Financial here>>>Shares of Broadridge Financial have returned -2.8% over the past month versus the Zacks S&P 500 composite's -0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.