Employer Services division, which used to provide HR management solutions, witnessed a 7% increase in revenues. However, the client revenue retention was down 120 basis points. Co-employment division PEO Services revenue climbed 10% compared to last year, driven primarily by an 8% increase in average worksite employees for the quarter.
RELATED: New business bookings lift ADP’s results
On July 31, the company acquired Celergo, a provider of global payroll management services. This deal is said to enhance ADP’s international payroll offerings. Financial details of the deal remain unknown.
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Looking ahead into fiscal 2019, the company expects revenue growth to be about 5% to 7% and adjusted EPS to grow between 13% and 15%.
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