Strong First Quarter Results
Broadridge delivered 8% recurring revenue growth constant currency and 51% growth in adjusted EPS for the first quarter. The company raised its recurring revenue outlook to the higher end of the 5% to 7% growth range.
Capital Markets Growth
Capital Markets revenues grew 6%, driven by new sales, higher trading volumes, and a boost from tokenization efforts.
Wealth Management Expansion
Wealth and Investment Management revenues grew 22%, with the acquisition of SIS driving value and strong progress in client onboarding.
Strategic Acquisitions
Broadridge completed 2 tuck-in acquisitions, Signal and iJoin, to strengthen its governance business and expand its capabilities in Europe and retirement plan technology.
Tokenization and Digital Assets
Broadridge recognized $4 million in digital asset revenues from its role as a Super Validator on the Canton Network. The company sees tokenization as a megatrend in financial services.
Strong Pipeline and Closed Sales
Broadridge closed $33 million in Q1 sales and maintains a strong pipeline, on track to meet its full-year guidance of $290 million to $330 million in closed sales.