Broadridge Financial Solutions Reports Falling Profits (BR)

Lake Success, New York-based Broadridge Financial Solutions, Inc. BR released financial results on Tuesday morning before the market opened. Broadridge Financial Solutions, Inc announced that its 2nd quarter net earnings fell to $10.4 million, or 8 cents per share, down from $33.6 million, or 24 cents per share, a year earlier. The company reported earnings from continuing operations of 8 cents per share. Broadridge Financial Solutions, Inc reported revenue of $442.3 million, down from $529.7 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 13 cents per share, on revenue of $467.76 million. Broadridge Financial Solutions, Inc finished the previous trading day at $23.25 per share. The consensus price target of analysts covering the company's stock is $23.00 per share. Broadridge Financial Solutions, Inc is the market leader enabling secure and accurate processing of information for communications and securities transactions among issuers, investors and financial intermediaries. The company builds the infrastructure that underpins proxy services for over 90% of public companies and mutual funds in North America; processes more than $3 trillion in fixed income and equity trades per day; and saves companies billions annually through its technology solutions. Read more from Benzinga's Company news.