Aug 4 (Reuters) – Broadridge Financial reported higher fourth-quarter profit on Tuesday, helped by strength in its investor communications business.
Shares of the company have fallen about 29.5% so far this year, but rose 1.7% in premarket trading following the results.
Here are some details:
• Broadridge’s investor communication solutions segment, its biggest unit, recorded revenue of $1.73 billion in the fourth quarter, up from $1.6 billion a year earlier.
• “We are building the infrastructure for the markets of tomorrow and are enabling Governance solutions for tokenized assets, reinventing shareholder engagement, and digitizing communications,” CEO Tim Gokey said.
• Broadridge is one of the largest investor communication and technology services providers in the U.S. to banks, broker-dealers, and other financial institutions.
• It plays a critical role in enabling proxy voting, trade processing, and regulatory compliance.
• Its net earnings were $398 million, or $3.44 per share, in the three months ended June 30, compared with $374.2 million, or $3.16 per share, a year ago.
(Reporting by Pragyan Kalita in Bengaluru; Editing by Tasim Zahid)
