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ADP Q3 Earnings & Revenues Top Estimates, Bookings Increased
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Automatic Data Processing, Inc. (ADP - Free Report) reported third-quarter fiscal 2018 results, (ended Mar 31, 2018) adjusted earnings per share of $1.52 beating the Zacks Consensus Estimate of $1.44. Earnings increased 16% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for third-quarter fiscal 2018 earnings remained unchanged over the last 30 days.
The company also has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average positive surprise of 5.5%.
ADP recorded revenues of $3.69 billion which beat the Zacks Consensus Estimate of $3.67 billion. Revenues compared favorably with the year-ago figure of $3.41 billion.
Key Stats to Note: In the quarter, worldwide new business bookings increased 9%. The company raised quarterly cash dividend by 10%, representing a return of a portion of the benefits from the Tax Cuts and Jobs Act to shareholders. It raised fiscal 2018 adjusted earnings per share growth outlook to 16-17%, compared with the previous guidance of 12-13%.
Check back later for our full write up on this ADP earnings report later!
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Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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ADP Q3 Earnings & Revenues Top Estimates, Bookings Increased
Automatic Data Processing, Inc. (ADP - Free Report) reported third-quarter fiscal 2018 results, (ended Mar 31, 2018) adjusted earnings per share of $1.52 beating the Zacks Consensus Estimate of $1.44. Earnings increased 16% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for third-quarter fiscal 2018 earnings remained unchanged over the last 30 days.
The company also has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average positive surprise of 5.5%.
Automatic Data Processing, Inc. Price
Automatic Data Processing, Inc. Price | Automatic Data Processing, Inc. Quote
Revenues Higher Than Expected
ADP recorded revenues of $3.69 billion which beat the Zacks Consensus Estimate of $3.67 billion. Revenues compared favorably with the year-ago figure of $3.41 billion.
Key Stats to Note: In the quarter, worldwide new business bookings increased 9%. The company raised quarterly cash dividend by 10%, representing a return of a portion of the benefits from the Tax Cuts and Jobs Act to shareholders. It raised fiscal 2018 adjusted earnings per share growth outlook to 16-17%, compared with the previous guidance of 12-13%.
Zacks Rank: Currently, ADP has a Zacks Rank #2 (Buy) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this ADP earnings report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>