Fintech Broadridge's profit doubles on investor communications unit strength

(Reuters) -Fintech firm Broadridge Financial's first-quarter profit more than doubled on Tuesday, helped by strong growth in its investor communications solutions.

Broadridge is one of the largest investor communication and technology services provider in the U.S. to banks, broker-dealers and other financial institutions.

It handles the distribution of proxy materials and voting process for its clients, positioning it in a niche market that analysts say gives it a strong competitive edge.

"With a strong start to fiscal 2026, we now expect Fiscal Year 2026 Recurring revenue growth at the higher end of our 5-7% guidance range, and are reaffirming our guidance for continued margin expansion," said CEO Tim Gokey.

Operating income was $188.8 million for the three months ended September 30, compared with $134.4 million a year ago.

Revenue at its investor communication solutions unit, its largest, grew 11% to $1.13 billion. The global technology and operations segment, which provides infrastructure for trading activity, also saw a 13% revenue jump to $459 million.

Total revenue rose 12% to $1.59 billion, the company said.

Broadridge reported profit of $165.4 million, or $1.40 per share, up from $79.8 million, or 68 cents per share, a year ago.

(Reporting by Ateev Bhandari in Bengaluru; Editing by Sahal Muhammed)

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