How did ADP's operating expenses trend impact Q2 2025 revenue growth?

ADP's operating expenses have shown a general upward trend over the past five years, with a few fluctuations. In Q2 2025, the company's operating expenses were $14.59 billion. 1. **Operating Expenses Trend**: The cumulative operating expenses for ADP have increased from $14.59 billion in Q2 2020 to $19.2 billion in Q2 2024, with a peak at $18.01 billion in Q2 2023. This indicates a general upward trend in operating expenses, with some fluctuations. 2. **Impact on Revenue Growth**: The revenue growth for ADP in Q2 2025 was not directly impacted by the operating expenses trend, as the revenue for Q2 2025 was not provided in the data. However, the increase in operating expenses could potentially indicate a growth in business activities, which might have contributed to revenue growth if it had led to higher sales or more efficient operations. |code|Ticker|Name|Date|Total Revenue (FY)|Operating Expenses (FY)|market_code| |---|---|---|---|---|---|---| |ADP|ADP.O|Automatic Data Processing|2020|1.45898E10||185| |ADP|ADP.O|Automatic Data Processing|2021|1.50054E10||185| |ADP|ADP.O|Automatic Data Processing|2022|1.64983E10||185| |ADP|ADP.O|Automatic Data Processing|2023|1.80122E10||185| |ADP|ADP.O|Automatic Data Processing|2024|1.92026E10||185|