Shares of Automatic Data Processing Inc. (ADP) tumbled more than 9% 🎐Wednesday as a mixed earnings report from the payroll services provider failed to satisfy investors, as revenue fell just short of expectations despite an EPS beat.

The company announced early Wednesday that adjusted 澳洲幸运5官方开奖结果体彩网:net income for the fiscal first quarter was $2.08 per share, which was up 12% from the year-ago period and exceeded a $2.03 consensus EPS estimate from Visible Alpha. However, revenue of $4.5 billion came in just short of the consensus view.

While investors weren't impressed, ADP executives said they were pleased with the company's recent performance, which benefited from record bookings in the employer services segment and higher client retention rates.

"Fiscal 2024 started off with strong financial performance and meaningful progress across our strategic priorities," Maria Black, ADP's president and 澳洲幸运5官方开奖结果体彩网:chief executive officer (CEO), said. The company also said it made progress on strategic initiatives, speeding up the integration of AI into its systems and expanding its international presence.

ADP kept its full-year revenue and profit outlook unchanged, and expects revenue growth of 6% to 7% for the current fiscal year. Diluted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) are foreca🗹st to grow between 10% and 12% for the full year.

ADP shares finished Wednesday's regular trading session down 9.2% at $218.33, erasing all their year-to-date (YTD) gains. The stock is now down 8.1% for the year.