Broadridge Financial Solutions reported its results for the third quarter of the financial year 2022 ended on 31 March.
The US-based fintech firm saw total revenues rise of 10% to $1,534 million in Q3 2022 compared to 1,390 million during the same period the previous year.
The company’s recurring revenues was also up during the third quarter by 16% to $1,012 million from $872 million during Q3 2021.
Broadbridge’s total revenue for the previous nine months of the financial year stood at $3,462 million, 15% higher in yearly basis.
According to the report, the closed sales figure for the third quarter came in at $58 million, registering a jump of 33% from the $43 million in FY 2021. On year-to-date basis, closed sales rose by 42%.
The diluted earning per share (EPS) increased to $1.49 by 6% from $1.40. Adjusted EPS in Q3 were up 10% from $1.76 to $1.93.
Tim Gokey, Broadridge‘s Chief Executive Officer, commented:
Tim Gokey Source: LinkedIn
Broadridge delivered another strong quarter, with 16% recurring revenue and 10% Adjusted EPS growth. Our growth is being propelled by long-term trends and by the continued execution of our strategy.
Based on our strong performance to date and visibility into our seasonally larger fourth quarter, we continue to expect fiscal year 2022 recurring revenue growth at the high end of our 12-15% range and are increasing our expectations for Adjusted EPS growth to 13-15%, up from 11-15% previously.
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