UPDATE: ADP Posts Upbeat FQ2 Results

Automatic Data Processing ADP reported a drop in its fiscal second-quarter profit. ADP's quarterly profit fell to $377 million, or $0.78 per share, from a year-ago profit of $390.9 million, or $0.80 per share. Its total revenue climbed 8.6% to $2.98 billion. However, analysts were expecting earnings of $0.77 per share on revenue of $2.94 billion. ADP shares closed at $74.95 yesterday.