Feb 3 (Reuters) – Fintech firm Broadridge Financial raised its full-year earnings forecast and posted a higher second-quarter profit on Tuesday, buoyed by strength in its investor communications business. The firm, one of the largest investor communications and technology services providers in the U.S., has benefited from increased corporate activity. “Our results reflect strong organic […]
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Broadridge raises annual profit forecast on investor communications strength
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Feb 3 (Reuters) – Fintech firm Broadridge Financial raised its full-year earnings forecast and posted a higher second-quarter profit on Tuesday, buoyed by strength in its investor communications business.
The firm, one of the largest investor communications and technology services providers in the U.S., has benefited from increased corporate activity.
“Our results reflect strong organic growth of 7%, including strength in investor participation and elevated levels of event-driven activity,” CEO Tim Gokey said.
Broadridge now expects full‑year adjusted earnings per share growth of 9% to 12%, compared with its earlier projection of 8% to 12%.
The company’s investor communication solutions segment, its biggest unit, recorded a 7% rise in revenue to $1.23 billion during the quarter ended December 31.
Total quarterly revenue jumped 8% to $1.7 billion, while adjusted earnings per share stood at $1.59, compared with $1.56 a year earlier.
(Reporting by Pragyan Kalita in Bengaluru; Editing by Jonathan Ananda)