Broadridge Financial: Fiscal 2Q Earnings Snapshot

LAKE SUCCESS, N.Y. (AP) _ Broadridge Financial Solutions Inc. (BR) on Thursday reported fiscal second-quarter net income of $49.9 million.

On a per-share basis, the Lake Success, New York-based company said it had profit of 42 cents. Earnings, adjusted for one-time gains and costs, were 56 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The technology outsourcing company posted revenue of $953.4 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $970.4 million.

For the current quarter ending in April, Broadridge Financial expects its per-share earnings to range from $1.40 to $1.56.

The company said it expects revenue in the range of $1.2 billion to $1.25 billion for the fiscal third quarter.

Broadridge Financial shares have climbed roughly 8 percent since the beginning of the year. The stock has increased 14 percent 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 BR at https://www.zacks.com/ap/BR