ADP’s payroll bookings growth for the third quarter ended March 31 caused the company to raise its outlook for the year ending June 30. ADP reported this week its Employer Services business had bookings growth of 10 percent for the quarter.

During this week's earnings webcast, CEO Carlos Rodriguez described bookings as experiencing broad-based growth with the company looking forward to the impact of its purchase this quarter of a “mid-size payroll” company’s customer list. Those clients will be offered the chance to covert to Workforce Now or Run. 

Rodriguez did not name the company, the price paid or number of users involved. He expects there will be an “Incremental benefit in the fourth quarter”.

For the third quarter, ADP reported net income of $753.7 million, an increase of 14 percent from $661.1 million in last year’s corresponding period. Revenue for the most recently ended quarter was $3.85 billion, up 4 percent from $3.7 billion a year ago. Employer Service revenue for the third quarter was $2.7 2 billion, an increase of 5 percent from $2.63 billion a year earlier. PEO revenue totaled $1.13 billion, up 6 percent, from $1.1 billion.

Last modified on Tuesday, 07 May 2019
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