Broadridge Reports Mixed Q1: Earnings Surpass Forecasts As Recurring Revenue Gains Offset Lower Event-Driven Sales

Broadridge Financial Solutions Inc (NYSE:BR) shares are trading higher after it reported first-quarter results.

The company reported revenue that fell 1% year over year to $1.42 billion, missing the consensus of $1.48 billion.

Recurring revenues increased 3% to $900 million, while Distribution revenues fell 3% to $460 million. Event-driven segment revenues declined 28% to $63 million in the quarter.

The company’s closed sales rose 21% to $57 million in the quarter. Adjusted operating income fell 7% to $185 million, with margin ...