Investing.com - ADP reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
ADP announced earnings per share of $1.65 on revenue of $4.03B. Analysts polled by Investing.com anticipated EPS of $1.63 on revenue of $3.98B.
ADP shares are down 12.04% from the beginning of the year, still down 12.89% from its 52 week high of $248.96 set on December 29, 2021. They are outperforming the Nasdaq 100 which is down 13.3% from the start of the year.
ADP follows other major Information Technology sector earnings this month
ADP's report follows an earnings beat by Microsoft on Tuesday, who reported EPS of $2.48 on revenue of $51.73B, compared to forecasts EPS of $2.31 on revenue of $50.65B.
Taiwan Semiconductor had beat expectations on January 13 with fourth quarter EPS of $1.16 on revenue of $15.85B, compared to forecast for EPS of $1.12 on revenue of $15.69B.
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