Broadridge Financial Solutions, Inc. stock research
FY2024 Q4
Broadridge Financial Solutions (BR) Gross Margin — Quarter Ended Jun 30, 2024
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue also rose. Gross margin improved from the prior quarter but weakened relative to the same quarter one year earlier.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q4
Revenue and gross profit both increased compared to the prior quarter, while cost of revenue also rose. Gross margin improved from the prior quarter but weakened relative to the same quarter one year earlier.
- The improvement in gross margin from the prior quarter was driven by a proportionally larger increase in gross profit relative to revenue, despite higher cost of revenue.
- Compared to the immediately preceding quarter, gross margin was higher. Compared to the same quarter one year earlier, gross margin was lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
35.6%
Gross profit
$691.2M
Revenue
$1.9B
Cost of revenue
$1.3B
Quarter-over-quarter change
+4.3 pts
Year-over-year change
-1.4 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2023 | $1.4B | $355.8M | $1.1B | 24.9% |
| Dec 31, 2023 | $1.4B | $347.8M | $1.1B | 24.8% |
| Mar 31, 2024 | $1.7B | $539.2M | $1.2B | 31.2% |
| Jun 30, 2024 | $1.9B | $691.2M | $1.3B | 35.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+4.3 pts
Year-over-year change
Jun 30, 2023
-1.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The improvement in gross margin from the prior quarter was driven by a proportionally larger increase in gross profit relative to revenue, despite higher cost of revenue.
Compared to the immediately preceding quarter, gross margin was higher. Compared to the same quarter one year earlier, gross margin was lower.
Monitor the trajectory of cost of revenue relative to revenue, as its growth rate may influence future gross margin stability.