CDK Global has announced financial results for its fourth quarter and fiscal year ended June 30, showing revenues of $488 million, a 10 percent increase versus the same period last year.
“We achieved very positive results, with record DMS sales in the quarter and improved retention in North America. I’m pleased with the favorable momentum we’re seeing in our business metrics and product innovations, especially with our Drive Flex solution and Fortellis Open API platform,” said Brian Krzanich, president and CEO. “We are excited about the long-term growth opportunities ahead for us as we focus now solely on our world-class software business and providing great experiences for our customers.”
“Company revenues were up, driven by the addition of our ELEAD business and gains from revenue per site growth in both North America and International,” said Joseph Tautges, executive VP and CFO. “Auto sites in North America were at their highest levels since December 2017, and sites across all segments showed sequential progress in the quarter.”
On June 27, CDK committed to a plan to divest: a) all of the assets of its advertising North America business segment; and b) certain assets of our North America segment related to mobile advertising solutions and website services.