Broadridge Financial Solutions, Inc.(NYSE: BR) reported financial results for the second quarter ended 2024, with total revenue up 9% to 14.$05 billion。

Broadridge's recurring revenue experienced significant growth to 8.$9.9 billion, up 7% YoY。This signifies the resilience and adaptability shown by the firm in responding to market dynamics。

Broadridge Recurring Revenue Growth

Broadridge CEO Tim Gokey said: "We reiterate our 2024 guidance, which includes 6-9% growth in recurring revenue in constant currency, adjusted earnings per share, and record closed sales of 2..800 million to 3.$200 million。As a result, we are off to a good start in achieving our three-year growth targets, including a 7-9% annualized increase in recurring revenue and 8-12% adjusted earnings per share.。"

Investor Communication Solutions' total revenue was $1 billion, up 9% year-over-year, driven by higher recurring and event-driven revenue。In addition, the Global Technology and Operations segment reported recurring revenue of 4.$0.5 billion, up 9% YoY, driven primarily by new business and internal growth。

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Broadridge began fiscal 2024 with a spectacular first quarter, with significant growth in recurring revenue and adjusted earnings per share.。Total revenue increased 8% to 8.$7.1 billion, with adjusted earnings per share up 30% to 1.$09, setting a positive trajectory for Broadridge's financial performance in 2024。

Continued growth in revenue and earnings per share

During the period, Broadridge's total revenue grew 12 percent to 14 percent..$3.1 billion。This growth is attributed to the organic expansion of its Global Technology and Operations and Investor Communication Solutions segments。

The company's strategic focus on organic growth has yielded positive results, with closed sales soaring from $19 million to $48 million.。In addition, the strategic capital allocation enabled Broadridge to repurchase 1.$500 million stock, showing confidence in its future trajectory。

In addition, the Company's operating income increased 70% to 1.$4.8 billion, with a significant increase in operating margin, from 6.8% to 10.4%。This reflects the more efficient process of converting revenue into profit。

Recently, Broadridge launched OpsGPT, a solution that leverages Generative Artificial Intelligence (Generative AI) to revolutionize trading operations.。The company's commitment to AI innovation is not only reflected in OpsGPT。Last year, Broadridge launched BondGPT, an application that uses artificial intelligence to simplify bond selection in the U.S. corporate bond market.。