ADP reported its fiscal second-quarter results, with net income reaching $963.2 million, or $2.35 per share. These earnings surpassed Wall Street expectations, which had an average estimate of $2.27 per share from analysts.
The payroll and human resources company posted revenues of $5.05 billion for the quarter, also exceeding Street forecasts of $4.97 billion. This strong revenue performance was driven by increased demand for its employee management and payroll services.
The robust demand for ADP's services was particularly fueled by solid spending from small and medium-sized businesses. This indicates continued strength in ADP's core business segments and effective execution in the market.
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