Broadridge Financial profit rises on strength in investor communication services unit

Broadridge Financial Solutions

01/02/2024 12:49

Feb 1 (Reuters) - Fintech firm Broadridge Financial
 BR.N  reported a higher second-quarter profit on Thursday,
helped by strong demand at both its mainstay business units.
    Revenue at the company's investor communication services
business, which accounts for most of Broadridge's revenue, rose
to $1 billion from $919.4 million.
    The company's global technology and operations unit recorded
revenue of $405.4 million, up from $373.5 million.
    Broadridge, which provides infrastructure that powers
investing, corporate governance and communications to banks and
broker-dealers, among others, also links public companies and
mutual funds to individual and institutional investors.
    The company reported an adjusted profit of $109.6 million,
or 92 cents per share, in the second quarter, compared with
$108.4 million, or 91 cents per share, a year earlier.

 (Reporting by Pritam Biswas in Bengaluru; Editing by Shounak
Dasgupta)
 ((Pritam.Biswas@thomsonreuters.com))