Broadridge quarterly profit climbs on investor communications strength

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Broadridge quarterly profit climbs on investor communications strength.

By Reuters

(Reuters) - Broadridge Financial (BR.N) 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

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