Broadridge Raises Full-Year Profit Forecast Due to Strong Investor Communication Business Performance
Broadridge Financial Solutions, a fintech company, raised its full-year profit forecast on Tuesday and reported year-over-year profit growth for the second quarter, thanks to the strong performance of its investor communications business.
As one of the largest investor communications and technology service providers in the United States, the company has benefited significantly from continued active corporate-related business activities.
CEO Tim Gokey stated, “The company achieved a robust 7% organic growth, driven by increased investor engagement and high activity in event-driven businesses.”
Broadridge raised its full-year adjusted earnings per share growth outlook from the previous 8%-12% to a new range of 9%-12%.
For the quarter ended December 31, revenue from the company’s core Investor Communication Solutions segment rose 7% year-over-year to $1.23 billion.
Total revenue for the quarter surged 8% year-over-year to $1.7 billion; adjusted earnings per share were $1.59, compared to $1.56 in the same period last year.
Editor: Guo Mingyu
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Zcash holders vote 99.9% in favor of 25-second block times, approve fast NU7 rollout
AI data center layout draws investor attention! Qualcomm (QCOM.US) stock price climbs to a two-month high
As investors increasingly favor Qualcomm's strategy of entering the artificial intelligence (AI) data center infrastructure sector, the chip manufacturer is receiving more attention.
HBAR trades below 20-day SMA as Hedera expands AI integration
The 5% Era of US Treasury Bonds Arrives: No Short-term "Explosions", but Pressure May Appear in 12 to 18 Months
The real impact of high interest rates lies in their duration. A large amount of debt issued at 2%-3% in 2020-2021 is now facing the pressure of being rolled over at a cost of 6%-8%, and this shock will concentrate and erupt in 12-18 months. The US housing market will bear the brunt, while commercial real estate, highly leveraged companies, and private equity-backed firms are also at serious risk. If high rates persist for more than half a year, the market’s tolerance will be completely exhausted.
Crypto prices
More
