Broadridge Financial Solutions, Inc.
Broadridge Reports 7% Recurring Revenue Growth for Q2 FY2024
Summary
Broadridge Financial Solutions, Inc. reported a 7% increase in recurring revenues for the second quarter of fiscal year 2024, ending December 31, 2023. The company achieved an 8% increase in recurring revenues on a constant currency basis, with total revenues rising 9% to $1.4 billion. Diluted earnings per share (EPS) rose 23% to $0.59, and adjusted EPS increased slightly to $0.92. The company also reaffirmed its full-year guidance, including 6-9% constant currency recurring revenue growth and 8-12% adjusted EPS growth.
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About Broadridge Financial Solutions, Inc.
Broadridge Financial Solutions, Inc. is a leading provider of technology-driven solutions for the global financial industry. It specializes in investor communications, technology outsourcing, and data and analytics solutions for capital markets, wealth management, and asset management sectors. By delivering integrated solutions, Broadridge helps financial institutions manage the complexity of escalating regulatory requirements and evolving market demands. The company's offerings enable transparent and secure interactions with investors and shareholders through proxy voting and shareholder communications services. Broadridge’s technology platforms are crucial for streamlining operations, enhancing efficiency, and improving compliance management. By supporting back-office operations and providing end-to-end management of trade processing and settlement, Broadridge plays a pivotal role in ensuring the smooth functioning of financial transactions globally. Its services are utilized by banks, brokerage firms, and investment managers, reflecting its significant impact on the financial markets' infrastructure.
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