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ADP beats 1Q net income expectations, misses revenue forecasts

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ROSELAND, New Jersey — Automatic Data Processing Inc. (ADP) on Wednesday reported fiscal first-quarter profit of $295.2 million.

The Roseland, New Jersey-based company said it had profit of 61 cents per share. Earnings, adjusted to account for discontinued operations, came to 62 cents per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The payroll and human resources company posted revenue of $2.57 billion in the period, falling short of Street forecasts. Analysts expected $2.61 billion, according to Zacks.

ADP shares have fallen nearly 5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 8 percent. The stock has climbed almost 2 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. ADP stock research report from Zacks.

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Keywords:ADP,Earnings Report

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