Investing.com - ADP (NASDAQ:ADP) reported on Wednesday third quarter earnings that matched analysts' forecasts and revenue that fell short of expectations.
ADP announced earnings per share of $1.92 on revenue of $4.05B. Analysts polled by Investing.com anticipated EPS of $1.92 on revenue of $4.06B. That with comparison to EPS of $1.77 on revenue of $3.85B in the same period a year before.ADP had reported EPS of $1.52 on revenue of $3.67B in the previous quarter.Analysts are expecting EPS of $1.22 and revenue of $3.6B in the upcoming quarter.
ADP shares are down 16.12% from the beginning of the year and are trading at $143.01 , down-from-52-week-high.They are under-performing the Nasdaq 100 which is down 1.42% year to date.
ADP follows other major Services sector earnings this month
ADP's report follows an earnings beat by Verizon on Friday, who reported EPS of $1.26 on revenue of $31.61B, compared to forecasts EPS of $1.22 on revenue of $32.38B.
AT&T had missed expectations on April 22 with first quarter EPS of $0.84 on revenue of $42.78B, compared to forecast for EPS of $0.85 on revenue of $44.2B.
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