ROSELAND, N.J. (AP) 鈥� ROSELAND, N.J. (AP) 鈥� Automatic Data Processing Inc. (ADP) on Wednesday reported fiscal third-quarter net income of $1.36 billion.
The Roseland, New Jersey-based company said it had net income of $3.38 per share. Earnings, adjusted for non-recurring gains, were $3.37 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.28 per share.
The payroll and human resources company posted revenue of $5.94 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $5.86 billion.
ADP shares have fallen 23% since the beginning of the year, while the S&P’s 500 index has risen slightly more than 4%. The stock has dropped 32% in the last 12 months.
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