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.
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