Broadridge Financial Solutions, Inc. (NYSE:BR) today reported financial results for the second quarter ended December 31, 2022 of its fiscal year 2023.
Total revenues for the three-month period to end-December 2022 increased 3% year-over-year to $1,293 million from $1,260 million.
Recurring revenues increased $47 million, or 6%, to $840 million. Recurring revenue growth constant currency (Non-GAAP) was 8%, driven by organic growth from a combination of growth in Net New Business in GTO and ICS and Internal Growth, primarily in Broadridge’s ICS business.
Event-driven revenues decreased $27 million, or 42%, to $38 million, primarily due to the decrease in volume of mutual fund proxy communications.
Distribution revenues increased $13 million, or 3%, to $415 million, primarily driven by the impact…
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