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New York Stock Exchange-listed financial technology giant Broadridge Financial Solutions yesterday reported its fourth quarter 2022 (FY2022) results. During the above period, the company has achieved solid growth across its main business areas.
Total revenue for the most recent quarter reached $1,723 million, up 12% compared to the same period last year. One of the main reasons behind the recent surge is that recurring fee income has increased by around 15%. The number reached $1,189 million, compared with $1,033 million in the fourth quarter of FY21.
Broadridge’s operating profit increased nearly 21% to reach $342 million in the fourth quarter of 2022. Adjusted operating income was $436 million. However, net income was down about 5% to $248 million.
“A strong fourth quarter delivered record closed sales, 16% recurring revenue growth, continued margin expansion and 14% adjusted EPS growth, making it a great year for Broadridge. It’s closed.” Said Broadridge CEO Tim Gorky. Our performance reflects the continued execution of our long-term growth strategy, the continued digitization of financial services and the strong performance of his acquisition of Itiviti.
Broadridges resilient business model is built to deliver growth through various economic cycles. Looking ahead, we anticipate continued growth in fiscal 2023, with an Expect organic recurring revenue growth, continued margin expansion and adjusted EPS growth of 7% to 11%. We are well positioned to meet our financial goals over the next three years, added Gokey.
In terms of earnings, Broadridge has delivered strong growth over the past few quarters. Earlier this year, the company announced a partnership with his Blue Ocean Technologies.
In its latest announcement, Broadridge also confirmed that it will increase its annual dividend by 13%.
Finally, I am pleased to announce that our Board of Directors has approved a 13% increase in our annual dividend to $2.90 per share. , further underscoring the strength and resilience of our business the continuation of the trends that drive our growth, explains Gokey.
New York Stock Exchange-listed financial technology giant Broadridge Financial Solutions yesterday reported its fourth quarter 2022 (FY2022) results. During the above period, the company has achieved solid growth across its main business areas.
Total revenue for the most recent quarter reached $1,723 million, up 12% compared to the same period last year. One of the main reasons behind the recent surge is that recurring fee income has increased by around 15%. The number reached $1,189 million, compared with $1,033 million in the fourth quarter of FY21.
Broadridge’s operating profit increased nearly 21% to reach $342 million in the fourth quarter of 2022. Adjusted operating income was $436 million. However, net income was down about 5% to $248 million.
“A strong fourth quarter delivered record closed sales, 16% recurring revenue growth, continued margin expansion and 14% adjusted EPS growth, making it a great year for Broadridge. It’s closed.” Said Broadridge CEO Tim Gorky. Our performance reflects the continued execution of our long-term growth strategy, the continued digitization of financial services and the strong performance of his acquisition of Itiviti.
Broadridges resilient business model is built to deliver growth through various economic cycles. Looking ahead, we anticipate continued growth in fiscal 2023, with an Expect organic recurring revenue growth, continued margin expansion and adjusted EPS growth of 7% to 11%. We are well positioned to meet our financial goals over the next three years, added Gokey.
In terms of earnings, Broadridge has delivered strong growth over the past few quarters. Earlier this year, the company announced a partnership with his Blue Ocean Technologies.
In its latest announcement, Broadridge also confirmed that it will increase its annual dividend by 13%.
Finally, I am pleased to announce that our Board of Directors has approved a 13% increase in our annual dividend to $2.90 per share. , further underscoring the strength and resilience of our business the continuation of the trends that drive our growth, explains Gokey.
