Automatic Data Processing Inc. Q1 Profit Increases, Beats Estimates

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

The company's bottom line totaled $956.3 million, or $2.34 per share. This compares with $859.4 million, or $2.08 per share, in last year's first quarter.

Excluding items, Automatic Data Processing Inc. reported adjusted earnings of $956.1 million or $2.33 per share for the period.

Analysts on average had expected the company to earn $2.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.1% to $4.832 billion from $4.512 billion last year.

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

-Earnings (Q1): $956.3 Mln. vs. $859.4 Mln. last year. -EPS (Q1): $2.34 vs. $2.08 last year. -Revenue (Q1): $4.832 Bln vs. $4.512 Bln last year.