Broadridge Financial Solutions ( (BR) ) has released its Q1 earnings. Here is a breakdown of the information Broadridge Financial Solutions presented to its investors.
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Broadridge Financial Solutions, a leading global fintech company, provides technology-driven solutions to banks, broker-dealers, asset and wealth managers, and public companies, specializing in investor communications and technology-driven services that support financial markets.
In its first quarter fiscal 2025 earnings report, Broadridge Financial Solutions announced a 3% growth in recurring revenues and a 21% rise in closed sales, with adjusted earnings per share at $1.00. Despite a slight decline in total revenues by 1% compared to the previous year, the company remains optimistic about its financial trajectory.
Key financial metrics revealed recurring revenues at $900 million, driven by net new business and internal growth, while event-driven and distribution revenues saw declines. Operating income and adjusted operating income experienced decreases of 9% and 7%, respectively. However, the acquisition of Kyndryl’s Securities Industry Services business is expected to bolster its product offerings in Canada.
Broadridge’s strategic focus on digitizing and democratizing investing, trading innovation, and modernizing wealth management continues to drive strong sales and product innovation. The company raised its fiscal year 2025 guidance for recurring revenue growth, reflecting strong organic growth and strategic acquisitions.
Looking ahead, Broadridge expects to achieve 6-8% growth in recurring revenue and reaffirms its adjusted EPS growth target of 8-12% for fiscal year 2025, as it continues to execute its strategic initiatives and respond to market demands.
