The company said revenue for Q2 ended December 31, 2023 rose 6% year over year to $4.7 billion, net earnings rose 8% to $878 million, and adjusted EBIT rose 7% to $1.1 billion. Adjusted EBIT margin was 24.6%.

1. 01

   The company said revenue for Q2 ended December 31, 2023 rose 6% year over year to $4.7 billion, net earnings rose 8% to $878 million, and adjusted EBIT rose 7% to $1.1 billion. Adjusted EBIT margin was 24.6%.

2. 02

   The company said Employer Services revenue rose 8% from a year earlier in Q2, with segment margin up 170 basis points, while PEO Services revenue increased 3% and segment margin fell 50 basis points.

3. 03

   The company said interest on funds held for clients for Q2 rose 20% year over year to $225 million. It said average client funds balances fell 2% to $32.6 billion, and the average interest yield rose 50 basis points to 2.8%.

4. 04

   The company gave guidance for fiscal 2024 calling for revenue growth of 6 to 7% and adjusted EBIT margin expansion of 60 to 70 basis points. It said adjusted EBIT margin expansion in its outlook as of October 25, 2023 was 60 to 80 basis points.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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