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View All NewsPEO revenue rises 10% at ADP in fiscal Q1
October 31, 2018
PEO revenue rose 10% at ADP (NASD: ADP) in its fiscal first quarter ended Sept. 30. Total revenue was up 8%, or 7% when adjusted for constant currency and organic growth. The Roseland, NJ-based firm provide PEO and other services such as payroll processing.
| (US$ millions) | Q1 2019 | Q1 2018 | % change |
| PEO revenue | $986.1 | $898.9 | 10% |
| Revenues other than interest on funds held for clients or PEO | $2,218.6 | $2,078.9 | 7% |
| Interest on funds held for clients | $118.5 | $99.4 | 19% |
| Total company revenue (including non-PEO) | $3,323.2 | $3,077.2 | 8% |
| Net earnings | $505.4 | $412.6 | 22% |
PEO revenue had also risen by 10% in the company’s fiscal fourth quarter.
Guidance
ADP estimated PEO revenue will rise 8% to 9% for fiscal 2019, up from a previous forecast of 7% to 8%.
Share price and market cap
Shares in ADP were up 4.98% to $144.09 as of 11:52 a.m. Eastern time, and the company had a market cap of $60.04 billion, according to FT.com.