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Broadridge Financial Solutions Inc. (BR-0.47%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports revenues of $1,589.2 million, an increase from $1,405.0 million in the same quarter the previous year. This growth was driven by a 9% increase in recurring revenues and a 126% increase in event-driven revenues.
Operating income for the quarter was $210.7 million, up from $124.4 million in the previous year, with an operating margin of 13.3%.
Net earnings were reported at $142.4 million, compared to $70.3 million in the previous year, resulting in diluted earnings per share of $1.20.
Broadridge's Investor Communication Solutions segment reported revenues of $1,149.2 million, up from $999.5 million, driven by increases in both recurring and event-driven revenues.
The Global Technology and Operations segment saw revenues rise to $440.0 million from $405.4 million, with growth attributed to both organic factors and acquisitions.
Broadridge completed the acquisition of Kyndryl's Securities Industry Services business, which is expected to enhance its wealth management and capital markets solutions in Canada.
Cash and cash equivalents at the end of the period were $289.9 million, with net cash flows from operating activities reported at $111.2 million.
The company continues to focus on expanding its technology-driven solutions and maintaining strong financial performance across its segments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Broadridge Financial Solutions Inc. quarterly 10-Q report dated January 31, 2025. To report an error, please email earnings@qz.com.