Broadridge’s Total Revenues Climb 12% in Q4 FY22

NYSE-listed financial technology giant, Broadridge Financial Solutions yesterday reported its financial results for the fourth quarter of the fiscal year 2022 (Q4 FY22). During the mentioned period, the company witnessed solid growth across key business areas.

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Total revenues in the recent quarter reached $1,723 million, which is 12% higher compared to the same period last year. One of the major reasons behind the recent spike was a jump of approximately 15% in recurring fee revenues. The figure touched $1,189 million, compared to $1,033 million in Q4 FY21.

With a jump of almost 21%, the operating income of Broadridge reached $342 million in Q4 FY22. Adjusted operating income stood at $436 million. However, net earnings decreased by approximately 5% to $248 million.

“A strong fourth quarter capped another great year for Broadridge, with record closed sales, 16% recurring revenue growth, continued margin expansion, and 14% Adjusted EPS growth,” saidTim Gokey, Broadridge's CEO. “Our results reflect continued execution of our long-term growth strategy, the ongoing digitization of financial services, and strong performance from our Itiviti acquisition.”

“Broadridge's resilient business model is built to deliver growth through different economic cycles. Looking ahead, we expect continued growth in Fiscal 2023, with 6-9% organic recurring revenue growth, continued margin expansion, and 7-11% Adjusted EPS growth. Most importantly, we are well-positioned to deliver, again, on our three-year financial objectives, with recurring revenue and Adjusted EPS growth at or above the higher end of the range,” Gokey added.

In terms of revenues, Broadridge witnessed strong growth throughout the last few quarters. Earlier this year, the company announced a partnership with Blue Ocean Technologies.