Broadridge Financial Solutions, Inc. (NYSE:BR) reported financial results for the second quarter and six months ended December 31, 2020 of its fiscal year 2021.
Financial Results for the Second Quarter Fiscal Year 2021 compared to Second Quarter Fiscal Year 2020
The effective tax rate was 18.9% compared to 3.8% in the prior year period. The increase in the effective tax rate was driven by higher pre-tax earnings, which reduced the impact of discrete tax items. Excess tax benefits attributable to stock-based compensation were $4 million in the current year period, compared to $2 million in the comparable prior year period.
Financial Results for the Six Months Fiscal Year 2021 compared to the Six Months Fiscal Year 2020
The effective tax rate was 14.6% compared to 11.2% in the prior year period. The increase in the effective tax rate was driven by higher pre-tax earnings, which reduced the impact of discrete tax items. Excess tax benefits attributable to stock-based compensation were $13 million in the current year period, compared to $8 million in the comparable prior year period.
Source: www.broadridge-ir.com
