Broadridge Financial Solutions, Inc. (NYSE:BR) today reported financial results for the second quarter ended December 31, 2023 of its fiscal year 2024.
Total revenues for the second quarter of fiscal year 2024 increased 9% to $1,405 million from $1,293 million a year earlier.
Recurring revenues increased $58 million, or 7%, to $899 million. Recurring revenue growth constant currency (Non-GAAP) was 6%, all organic, driven by Net New Business and Internal Growth.
Event-driven revenues increased $18 million, or 47%, to $55 million, driven by higher mutual fund proxy activity.
Distribution revenues increased $36 million, or 9%, to $451 million, thanks to the postage rate increase of approximately $28 million and higher event-driven mailings.
Operating income was $124…
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