Automatic Data Processing, Inc. (NASDAQ: ADP) has announced financial results for the second quarter of 2023, reporting higher earnings and revenues. The technology company also provided guidance for fiscal 2023.
Second-quarter net income was $813.1 million or $1.95 per share, compared to $694.4 million or $1.65 per share in the same period of last year. Adjusted earnings moved up 19% year-over-year to $1.96 per share.
Driving the bottom-line growth, second-quarter revenues advanced 9% annually to $4.39 billion. The management expects full-year revenue to grow between 8% and 9%.
“As businesses continue to navigate the uncertainty of today’s macroeconomic environment, we remain focused on listening to our clients’ needs and delivering the solutions that will enable their success. I am proud of our dedicated associates who deliver on ADP’s mission each day and always strive to put the client at the center of every decision,” said ADP’s CEO Maria Black.