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Broadridge Financial Solutions Inc. Q2 adjusted earnings Beat Estimates
WASHINGTON (dpa-AFX) - Broadridge Financial Solutions Inc. (BR) released earnings for its second quarter that climbed from last year.
The company s profit totaled $56.3 million, or $0.48 per share. This compares with $10.1 million, or $0.09 per share, in last year s second quarter.
Excluding items, Broadridge Financial Solutions Inc. reported adjusted earnings of $85.9 million or $0.73 per share for the period.
Analysts had expected the company to earn $0.70 per share, according to figures compiled by Thomson Reuters. Analysts estimates typically exclude special items.
The company s revenue for the quarter rose 9.3% to $1.06 billion from $0.97 billion last year.
Broadridge Sees FY21 Recurring Revenue, Adjusted EPS Growth At High End Of Ranges
WASHINGTON (dpa-AFX) - While reporting its financial results for the second quarter on Tuesday, Broadridge Financial Solutions, Inc. (BR) said it now expects recurring revenue and adjusted earnings per share growth at the higher end of its outlook ranges.
The company had earlier forecast fiscal 2021 recurring revenue growth of 3 to 6 percent, and adjusted earnings per share growth of 6 to 10 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.51 per share for the year on revenue growth of 3.8 percent to $4.7 billion. Analysts estimates typically exclude special items.
Operator
Good morning, and welcome to the Broadridge Second Quarter Fiscal Year 2021 Earnings Conference Call. [Operator Instructions]
I would now like to turn the conference over to Edings Thibault, Head of Investor Relations. Please go ahead.
Edings Thibault
Head, Investor Relations
Thank you, Andrew. Good morning, everybody, and welcome to Broadridge s fiscal second quarter 21 earnings call. Our earnings release and the slides that accompany this call may be found on the Investor Relations section of broadridge.com. Joining me on the call this morning are Tim Gokey, our CEO and our CFO, Edmund Reese. Before I turn the call over to Tim a few standard reminders.
Broadridge and Third Economy Launch ESG Advisory Service
To better help companies and investors enhance their environmental, social and governance (ESG) programs, Broadridge Financial Solutions Inc. and Third Economy have launched an ESG advisory service.
The new service is said to help corporate issuers and asset managers improve sustainability strategies while effectively positioning their ESG programs with stakeholders.
“Companies are making corporate responsibility initiatives part of their business strategy as more retail and institutional investors raise ESG concerns and seek the long-term performance advantages and benefits of ESG-focused businesses,” says Dorothy Flynn, president of corporate issuer solutions at Broadridge. “Investors and other stakeholders are increasingly looking at ESG disclosures as a fundamental expectation, driving the need for additional connectivity between companies, investors and other stakeholders.”