Automatic Data Processing Reports Significant Increase in Q3 Revenues and Earnings
Wednesday, 1 May 2024, 15:23
Automatic Data Processing Q3 Earnings Overview
Automatic Data Processing, Inc. (NASDAQ: ADP), a leading technology company providing human capital management solutions, reported a significant increase in revenues and adjusted earnings for the third quarter of 2024.
Key Highlights:
- Q3 Revenues: Increased by 7% year-over-year to $5.3 billion
- Employer Services Revenues: Grew by 8% on a reported basis and 7% on a constant currency basis
- PEO Services Revenues: Increased by 5% with revenues excluding zero-margin benefits pass-throughs rising by 2%
- Interest on Funds Held for Clients: Saw a 29% increase to $321 million with average client funds balances rising by 6% to $41.7 billion
The positive financial results indicate a strong performance by ADP in the Q3 of 2024, showing growth across key segments and positioning the company for continued success.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.