Automatic Data Processing (ADP) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter increased compared to the prior quarter and the same quarter last year. Both sequential and year-over-year growth were positive.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q3
Revenue for the quarter increased compared to the prior quarter and the same quarter last year. Both sequential and year-over-year growth were positive.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$4.9B
Revenue reported for this quarter.
Quarter-over-quarter
+12.2%
Change from the immediately preceding quarter.
Year-over-year
+9.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$17.7B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $4.1B | +10.5% |
| Sep 30, 2022 | $4.2B | +10.0% |
| Dec 31, 2022 | $4.4B | +9.1% |
| Mar 31, 2023 | $4.9B | +9.2% |
Revenue performance
All three major revenue categories—revenues excluding interest and PEO, interest on client funds, and PEO revenues—contributed to the overall increase.
Quarterly comparison
The sequential increase was larger than the year-over-year increase, based on the reported changes.
What to watch
The consistent revenue growth across both sequential and annual comparisons indicates ongoing business momentum.