ROSELAND, N.J. (AP) — ROSELAND, N.J. (AP) — Automatic Data Processing Inc. (ADP) on Wednesday reported fiscal first-quarter profit of $1.01 billion.
On a per-share basis, the Roseland, New Jersey-based company said it had net income of $2.49.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.44 per share.
The payroll and human resources company posted revenue of $5.18 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $5.13 billion.
ADP shares have decreased 4.5% since the beginning of the year, while the S&P’s 500 index has increased 17%. The stock has declined slightly more than 2% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADP at https://www.zacks.com/ap/ADP
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