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ROSELAND, N.J. (AP) — ROSELAND, N.J. (AP) — Automatic Data Processing Inc. (ADP) on Wednesday reported fiscal third-quarter profit of $1.04 billion.
On a per-share basis, the Roseland, New Jersey-based company said it had profit of $2.51. Earnings, adjusted for one-time gains and costs, were $2.52 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.42 per share.
The payroll and human resources company posted revenue of $4.93 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $4.89 billion.
ADP shares have declined 11% since the beginning of the year, while the S&P's 500 index has increased 6%. The stock has dropped almost 7% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ADP">Zacks stock report on ADP at https://www.zacks.com/ap/ADP