Broadridge Financial Solutions, Inc. (NYSE:BR) today reported financial results for the third quarter ended March 31, 2024 of its fiscal year 2024.
Total revenues increased 5% to $1,726 million from $1,646 million from the year-ago period.
Recurring revenues increased $44 million, or 4%, to $1,126 million. Recurring revenue growth constant currency (Non-GAAP) was 4%, all organic, driven by Net New Business and Internal Growth.
Event-driven revenues increased $15 million, or 29%, to $67 million, driven by equity proxy contests in the quarter.
Distribution revenues increased $21 million, or 4%, to $533 million, thanks to the postage rate increase of approximately $30 million offset by lower communications volumes.
Operating income was $303 million, an increase of $16…
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