ADP: Fiscal Q1 Earnings Snapshot

Associated Press Finance
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ROSELAND, N.J. (AP) — ROSELAND, N.J. (AP) — Automatic Data Processing Inc. (ADP) on Wednesday reported fiscal first-quarter earnings of $859.4 million.

The Roseland, New Jersey-based company said it had profit of $2.08 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.03 per share.

The payroll and human resources company posted revenue of $4.51 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $4.52 billion.

ADP shares have climbed roughly 1% since the beginning of the year, while the S&P's 500 index has risen 11%. The stock has risen 1.5% in the last 12 months.

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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

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