Broadridge Financial Earned $1.07 per Share

This morning, Broadridge Financial Solutions (BR) said it made $1.07 per share for its fiscal Q1. Analysts had been expecting 99 cents per share. Recurring fee revenue rose 16% to $751 million.

“Broadridge reported strong first quarter results,” said Tim Gokey, Broadridge’s CEO. “Recurring revenues grew by 16%, propelled by revenue from new sales, continued robust governance trends, and our ongoing integration of Itiviti.

With a strong first quarter, Broadridge is on track to achieve our full-year guidance of 12-15% recurring revenue growth and 11-15% Adjusted EPS growth. We are focused on delivering sustainable, long-term growth across our governance, capital markets and wealth businesses, and we remain well-positioned to achieve the higher end of our three-year growth objectives.”

Last year, Broadridge made $5.66 per share. The current guidance comes to $6.28 to $6.51 per share for this year. This is a reiteration of what they’ve said before. The shares are down about 5% today.

Posted by on November 3rd, 2021 at 12:10 pm


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