Financial Overview:
- Revenue: $4.77 billion, up 6% YoY
- Gross Profit: $2.36 billion, Gross Margin: 49.5%
- Operating Income: $1.10 billion, Operating Margin: 23.0%
- Net Income: $829 million, Net Margin: 17.3%
- EPS: $2.03, up 8% YoY
Quarterly Changes:
- Revenue: Previous quarter revenue was $5.25 billion, indicating a QoQ decrease of 9.4%.
- Net Income: QoQ decreased by approximately 30% from $1.17 billion.
- Adjusted EBIT Margin: Expanded by 80 basis points YoY, reflecting improved operational efficiency.
Growth Insights:
Management reported strong performance across segments, with notable highlights in small business client retention and new Enterprise solutions, suggesting a steady demand in HCM solutions amid a resilient labor market. Management stated, "Our sales and marketing team delivered exceptional employer services new business bookings in Q4, on top of a strong Q4 last year."