Automatic Data Processing Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Automatic Data Processing Inc. (ADP) released a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $859.4 million, or $2.08 per share. This compares with $779.0 million, or $1.87 per share, in last year's first quarter.

Excluding items, Automatic Data Processing Inc. reported adjusted earnings of $859.9 million or $2.08 per share for the period.

Analysts on average had expected the company to earn $2.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.9% to $4.51 billion from $4.22 billion last year.

Automatic Data Processing Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $859.4 Mln. vs. $779.0 Mln. last year. -EPS (Q1): $2.08 vs. $1.87 last year. -Analyst Estimate: $2.02 -Revenue (Q1): $4.51 Bln vs. $4.22 Bln last year.