Automatic Data Processing Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Automatic Data Processing Inc. (ADP) announced earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $1.04 billion, or $2.51 per share. This compares with $0.93 billion, or $2.21 per share, in last year's third quarter.

Excluding items, Automatic Data Processing Inc. reported adjusted earnings of $1.05 billion or $2.52 per share for the period.

Analysts on average had expected the company to earn $2.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.3% to $4.93 billion from $4.51 billion last year.

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

-Earnings (Q3): $1.04 Bln. vs. $0.93 Bln. last year. -EPS (Q3): $2.51 vs. $2.21 last year. -Analyst Estimate: $2.45 -Revenue (Q3): $4.93 Bln vs. $4.51 Bln last year.