By Will Feuer
Automatic Data Processing Inc. raised its guidance for the fiscal year 2022, saying it now expects full-year revenue to grow 8% to 9% and adjusted earnings to grow by 12% to 14%.
The company had previously forecast revenue growth of between 7% and 8% and adjusted earnings of 11% to 13%.
It expects revenue from its employer services segment to grow by about 6%, while revenue from its PEO services segment is seen growing between 13% and 15%, the company said.
The guidance is based on an adjusted effective tax rate of about 22.5%.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires