Broadridge raises annual profit forecast on investor communications strength

Feb 3 (Reuters) - ⁠Fintech firm ⁠Broadridge ‍Financial raised its full-year earnings forecast and posted ‍a higher second-quarter profit on Tuesday, ​buoyed by strength in its investor ​communications business.

The firm, one of the largest investor communications and technology services providers in ​the U.S., has benefited from increased corporate activity.

"Our results reflect ​strong organic growth of 7%, including strength in ‌investor participation and elevated levels of event-driven activity," CEO Tim ​Gokey said.

Broadridge now ⁠expects full‑year adjusted earnings per share growth of 9% ‌to 12%, compared with its earlier projection of 8% to 12%.

The ‌company's investor communication solutions segment, its biggest ‌unit, recorded a 7% rise in revenue to $1.23 billion during the quarter ended ‍December 31.

Total quarterly revenue jumped 8% to $1.7 billion, while ⁠adjusted earnings per share stood at $1.59, compared with $1.56 a year earlier.

(Reporting by Pragyan Kalita in Bengaluru; Editing by Jonathan Ananda)

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