CDK Global, a technology company that focuses on the retail vehicle market, including RVs, said its revenue for the first quarter of fiscal 2022 was $440 million, a 6 percent increase over the same quarter a year ago. Reported earnings were $98.3 million, a 31 percent increase over Q1 of 2021.
“This fiscal year is pivotal for CDK as we work to transform the automotive industry by connecting dealers, manufacturers, software developers and consumers and delivering a modern retail experience through refreshed products and services,” said CDK’s CEO, Brian Krzanich. “Now that we’ve completely digitized the sales and service processes within the traditional dealership model, we are taking the next step of bringing the industry new capabilities, like Salty’s Embedded Insurance, to help consumers manage the many decisions that come with buying and owning a car.
“This progress is the direct result of the investments we’ve made over the last few years, and we are energized by the results we are driving in our core business and financial metrics, which include accelerated revenue growth and an 11th consecutive quarter of increased auto site count.”
For the entire fiscal year CDK is projecting revenue in the $1.78 billion to $1.82 billion range.
“We had a strong start to the year, with 6 percent revenue growth and bottom-line results that position us well for the year,” said Eric Guerin, CDK chief financial officer. “The quarter met our expectations and sets us on a trajectory to meet our financial goals for fiscal 2022 while continuing to invest in our business and in our customers’ success.”
