CDK Global has announced financial results for its fiscal 2020 second quarter ended Dec. 31, showing revenue was $499 million, an increase of 4 percent over the same period last year.
“We delivered another great quarter, continuing our focus on being customer-centric and accelerating our innovation,” said Brian Krzanich, president and CEO. “I am very pleased with the progress our foundational strategy is making to build our strong subscription-based software business. … As a result, we have reached a record site count for North America.”
“Quarterly company revenues were up 4 percent year-over-year, driven by growth in both our North America and international segments,” said Joseph Tautges, executive vice president and CFO. “The successful execution of our many initiatives is driving our strong results and our investments are improving the fundamental health of the business, creating long-term value.”
Growth in revenues was negatively impacted by 1 percentage point by foreign exchange rates for the quarter, and percentage growth in earnings before income taxes remained unchanged by foreign exchange rates.
The effective tax rate for the quarter was 38.2 percent, compared to 24.8 percent in last year’s second quarter. The adjusted effective tax rate for the quarter was 25.2 percent, compared to 23.6 percent in last year’s second quarter.