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ADP Always Designing for People ADP Reports Second Quarter Fiscal 2021 Results • • • • • • Revenues increased 1 % to $ 3.7 billion ; raising full year guidance to up 1 % to 3 % • Employer Services New Business Bookings decreased 7 % ; raising full year guidance to up 15 % to 25 % Net earnings decreased 1 % to $ 648 million , and adjusted net earnings decreased 1 % to $ 650 million • Adjusted EBIT decreased 1 % to $ 848 million , and adjusted EBIT margin declined 30 basis points to 22.9 % Diluted earnings per share ( " EPS " ) increased by 1 % to $ 1.51 for the quarter ; adjusted diluted EPS flat at $ 1.52 Guidance raised on strong first half performance and improved outlook for remainder of fiscal 2021 ; raising full year bookings , retention , revenue , margin , and EPS guidance ROSELAND , N.J. – January 27 , 2021 - ADP ( Nasdaq : ADP ) , a leading global technology company providing human capital management ( HCM ) solutions , today announced its second quarter fiscal 2021 financial results and updated its fiscal 2021 outlook . Second Quarter Fiscal 2021 Consolidated Results Compared to last year's second quarter , revenues increased 1 % to $ 3.7 billion , flat on an organic constant currency basis . Net earnings decreased 1 % to $ 648 million , and adjusted net earnings decreased 1 % to $ 650 million . Adjusted EBIT decreased 1 % to $ 848 million , representing an adjusted EBIT margin reduction of 30 basis points in the quarter to 22.9 % , as transformation initiatives and disciplined operating expense management largely offset the effects of lower client funds interest revenue and higher depreciation and amortization . ADP's effective tax rate for the quarter was 22.2 % on a reported and an adjusted basis . Diluted EPS increased by 1 % to $ 1.51 , and adjusted diluted EPS were flat at $ 1.52 as slightly lower net earnings were offset by a net share count reduction . " Our momentum continued to build this quarter as economic activity continued to trend positively , " said Carlos Rodriguez , President and Chief Executive Officer , ADP . " Our associates have delivered excellent service to our clients throughout the pandemic , and client satisfaction driven by our innovative products and best - in - class service has contributed towards an all - time high retention level . We are again delighted to increase our full year outlook across all key business metrics , and we are enthusiastic about our growth prospects as vaccination efforts progress and the global economy recovers . " " We are very pleased to have delivered Employer Services new business bookings year to date that nearly matches the amount we achieved in the first half of last year , before the effects of the pandemic . Strong sales and record client retention supported steadily improving revenue this quarter , which , combined with continued cost control across our segments , allowed us to deliver adjusted earnings per share ahead of our expectations , even as we accelerate growth investments and overcome continued headwinds related to employment and interest rates , " said Kathleen Winters , Chief Financial Officer , ADP . “ With a strong sales pipeline and coordinated product and marketing efforts in place , our confidence is high for substantial positive new business bookings growth during the second half of the year . " 1