Broadridge Financial Solutions, Inc. (NYSE:BR) today reported financial results for the second quarter of its fiscal year 2025, that is, for the three months ended December 31, 2024.
Total revenues in the three months to end-December 2024 increased 13% to $1,589 million from $1,405 million in the year-ago period.
Recurring revenues increased $81 million, or 9%, to $980 million. Recurring revenue growth constant currency (Non-GAAP) was 9%, driven by Net New Business in ICS and Internal Growth and Acquisitions in GTO.
Event-driven revenues increased $69 million, or 126%, to $125 million, driven by a higher volume of mutual fund communications.
Distribution revenues increased $34 million, or 7%, to $484 million, thanks to the postage rate increase of approximately $30 million.
Operating income was $211 million, an increase of $86 million, or 69%. Operating income margin increased to 13.3%, compared to 8.9%…
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