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Broadridge Financial's first-quarter profit more than doubles, driven by key divisions
Summary generated with AI, editor-reviewed
Heartspace News Desk
•Source: Reuters
Photo by Mihai Cojocaru on Unsplash
TL;DR
Broadridge's first-quarter profit surged to $165.4 million, or $1.40 per share, up from $79.8 million, or $0.68 per share, the prior year, with total revenue increasing 12% to $1.59 billion. Due to the strong results, Broadridge updated its fiscal year 2026 outlook and anticipates recurring revenue growth to be at the higher end of its 5-7% guidance range.
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Key takeaways
- Broadridge Financial Solutions reported a significant increase in first-quarter profit, driven by robust performance in its Investor Communication Solutions segment
- For the three months ending September 30th, the financial technology firm's profit reached $165
- 40 per share, a substantial increase from $79
Broadridge Financial Solutions reported a significant increase in first-quarter profit, driven by robust performance in its Investor Communication Solutions segment. For the three months ending September 30th, the financial technology firm's profit reached $165.4 million, or $1.40 per share, a substantial increase from $79.8 million, or $0.68 per share, in the prior year. Total revenue for the quarter increased by 12% to $1.59 billion.
Following these strong results, Broadridge updated its financial outlook for fiscal year 2026. CEO Tim Gokey stated, "With a strong start to fiscal 2026, we now expect Fiscal Year 2026 recurring revenue growth at the higher end of our 5-7% guidance range and are reaffirming our guidance for continued margin expansion."
Related Topics
Broadridge Financialfinancial technologyinvestor communicationsrevenue growthprofit increase
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