Broadridge Financial (BR) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended December 2023, Broadridge Financial Solutions (BR) reported revenue of $1.41 billion, up 8.7% over the same period last year. EPS came in at $0.92, compared to $0.91 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.39 billion, representing a surprise of +0.94%. The company delivered an EPS surprise of +4.55%, with the consensus EPS estimate being $0.88.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Broadridge Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Revenues- Global Technology and Operations: $405.40 million versus $392.25 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.5% change.
Total ICS Recurring Fee Revenues: $493.40 million versus the four-analyst average estimate of $498.44 million. The reported number represents a year-over-year change of +5.7%.
Total ICS Event- Driven Fee Revenues- Equity and other: $22.10 million compared to the $24.90 million average estimate based on four analysts. The reported number represents a change of -12.3% year over year.
Total ICS Event- Driven Fee Revenues- Mutual funds: $33.10 million compared to the $22.32 million average estimate based on four analysts. The reported number represents a change of +166.9% year over year.
Total ICS Event- Driven Fee Revenues: $55.20 million compared to the $47.22 million average estimate based on four analysts. The reported number represents a change of +46.8% year over year.
Distribution Revenues: $450.90 million versus the four-analyst average estimate of $453.01 million. The reported number represents a year-over-year change of +8.7%.
Net revenues- Investor Communication Solutions: $999.50 million versus $998.67 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.
Total ICS Recurring Fee Revenues- Data- driven fund solutions: $105.30 million compared to the $106.75 million average estimate based on four analysts. The reported number represents a change of +9.2% year over year.
Total ICS Recurring Fee Revenues- Issuer: $30.60 million versus the four-analyst average estimate of $29.74 million. The reported number represents a year-over-year change of +15.5%.
Total ICS Recurring Fee Revenues- Customer communications: $162.70 million versus $172.52 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.4% change.
Total GTO Recurring Fee Revenues- Capital markets: $262.40 million compared to the $248.08 million average estimate based on four analysts. The reported number represents a change of +11.5% year over year.
Total GTO Recurring Fee Revenues- Wealth and investment management: $143 million compared to the $144.17 million average estimate based on four analysts. The reported number represents a change of +3.5% year over year.
View all Key Company Metrics for Broadridge Financial here>>>
Shares of Broadridge Financial have returned +3.6% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Broadridge Financial Solutions, Inc. (BR) : Free Stock Analysis Report
