ROSELAND, N.J. (AP) — ROSELAND, N.J. (AP) — Automatic Data Processing Inc. (ADP) on Wednesday reported fiscal fourth-quarter profit of $978.6 million.
The Roseland, New Jersey-based company said it had net income of $2.45 per share. Earnings, adjusted for non-recurring costs, came to $2.64 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.59 per share.
The payroll and human resources company posted revenue of $5.47 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $5.43 billion.
For the year, the company reported profit of $4.41 billion, or $10.94 per share. Revenue was reported as $21.95 billion.
ADP shares have climbed roughly 3% since the beginning of the year, while the S&P's 500 index has increased 8.5%. The stock has dropped 14% 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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