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Automatic Data Processing (NASDAQ: ADP): Q1 2020 Earnings Snapshot

Automatic Data Processing (NASDAQ: ADP): Q1 2020 Earnings Snapshot

– Automatic Data Processing, Inc. (NASDAQ: ADP) reported adjusted earnings of $1.34 per share for the first quarter of 2020, vs. $1.33 per share expected.

– Net income was $582.4 million or $1.34 per share, compared to $505.4 million or $1.15 per share in the same period of last year

– First-quarter net revenues grew 6% annually to $3.5 billion, vs. $3.52 billion expected

– Expects consolidated revenues to grow between 6% and 7% in fiscal 2020

– Looking for full-year adjusted earnings growth in the range of 12% to 14%

– Automatic Data Processing shares closed the last trading session higher; the stock gained 25% so far this year

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