BUZZ-ADP rises on Q2 revenue beat

Reuters
01-29
BUZZ-ADP rises on Q2 revenue beat

** Shares of payroll processor Automatic Data Processing ADP.O rise 2.1% to $304.50 premarket

** Co posts Q2 revenue increase of 8% to $5.05 bln, compared with analysts' estimate of $4.97 bln- LSEG data

** Reports Q2 adj. EPS of $2.35 per share, compared with estimates of $2.29

** Second-quarter revenue was driven by healthy demand for co's human capital management and payroll software - Maria Black, CEO, ADP

** Four of 18 brokerages rate the stock "buy", 13 "hold" and one "sell"; their median PT is $297

** In 2024, ADP stock rose 59.8%

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))

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