U.S. Markets close in 1 hr 45 mins

ADP: Fiscal 3Q Earnings Snapshot

ROSELAND, N.J. (AP) _ Automatic Data Processing Inc. (ADP) on Wednesday reported fiscal third-quarter net income of $753.7 million.

On a per-share basis, the Roseland, New Jersey-based company said it had profit of $1.73. Earnings, adjusted for one-time gains and costs, were $1.77 per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.

The payroll and human resources company posted revenue of $3.85 billion in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $3.9 billion.

ADP shares have risen 25% since the beginning of the year, while the Standard & Poor's 500 index has risen 18%. The stock has risen 39% in the last 12 months.


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