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Company News

BUZZ-Automatic Data Processing: Down as revenue miss clouds upbeat forecast

** Payroll and tax services provider down 2.4% at $160.41 - set for biggest one-day pct drop in over 4 months

** Posts here Q3 revenue of $3.85 bln, below analysts' estimate of $3.90 bln - Refinitiv data

** Qtrly expense up 1.3% to $2.88 bln; Q3 rev lags behind Street expectations for the first time in 7 quarters

** However, co raises full-year profit and revenue forecast

** Even with session’s drop, ADP still has risen ~21% YTD (Reporting by Divya R in Bengaluru)

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