Estimated reading time: 1 minute, 26 seconds

ADP Payroll Revs Down Slightly

Employer Services revenue, which describes the company’s payroll business fell by 1 percent for Automatic Data Processing for the second quarter ended December 31. That came as overall revenue inched up .7 percent year-over-year.

The company reported net income of $647.5 million in the most recently reported quarter, about a .6-percent-increase from $651.6 million. Revenue rose to $3.7 billion from $3.67 billion, up 2 percent on a constant currency basis.

CEO Carlos Rodriguez said during the recent earnings webcast that the result represented  “continued sequential improvements driven by record level retention, and the more modest 6-percent decline in pays for control versus 9-percent last quarter."

Rodriguez said the company had strong bookings “in our down-market business” in the first quarter that helped. He also commented that the way a year starts often does not indicate how it will end. Years with slower starts often finish strong and vice versa..

He noted the company has about 200 live clients on its Next Gen Payroll platform with more than 500 systems sold.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Read 513 times
Rate this item
(0 votes)

TPA

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.