CDK Global (CDK) Tops Q2 EPS by 7c

CDK Global (NASDAQ: CDK) reported Q2 EPS of $0.44, $0.07 better than the analyst estimate of $0.37. Revenue for the quarter came in at $520.1 million versus the consensus estimate of $516.27 million.

“I am pleased with CDK’s results for the quarter which exceeded our expectations,” said Steve Anenen, chief executive officer, CDK. “We realized certain benefits from our business transformation plan sooner than anticipated and are on track to deliver against our transformation targets for the year. We continue to focus on operational excellence and putting our dealers at the center of everything we do.”

“We announced a $1 billion return of capital plan during the quarter and entered into an accelerated share repurchase agreement (ASR). Additionally, we increased the quarterly cash dividend as part of our commitment to return cash to our shareholders,” said Al Nietzel, chief financial officer, CDK.

For earnings history and earnings-related data on CDK Global (CDK) click here.

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