What drove ADP's revenue growth in Q2 2025?

ADP's revenue growth in Q2 2025 was primarily driven by the company's strategic expansions and innovations in its core business segments, as well as favorable market conditions.

1. **Strategic Expansions and Innovations**: ADP's focus on delivering comprehensive cloud-based Human Capital Management (HCM) and HR Outsourcing solutions has been a key driver of its revenue growth. The company's expansion into international markets with local, in-country software solutions and cloud-based multi-country solutions has opened up new revenue streams. Additionally, ADP's strategic acquisitions, such as those of WorkMarket, Global Cash Card, and The Marcus Buckingham Company, have strengthened its customer base and diversified its revenue streams.
2. **Market Conditions**: The overall positive market conditions for business services and the growing demand for ADP's services have also contributed to its revenue growth. Despite some indicators of a potential slowdown in job growth, such as the lower-than-expected increase in non-farm payrolls as reported by the ADP National Employment Report, the company's long-term performance and growth trends remain positive.

In summary, ADP's revenue growth in Q2 2025 was driven by its strategic expansions, innovations, and favorable market conditions.