CDK Global reports 6% revenue growth

Posted5/6/2022 3:11 PM

HOFFMAN ESTATES -- CDK Global Inc. reported financial results for its fiscal year third quarter, ended March 31, including a 6% growth in revenue.

The company reported $460 million in revenue, up $433 million and 6% from the year-ago quarter.


Earnings before income taxes were $96 million, as compared to $71 million in the third quarter last fiscal year.

As previously announced on April 7, CDK entered into a merger agreement in which, subject to certain terms and conditions, CDK agreed to be acquired by Brookfield Business Partners, together with its institutional investor partners. This transaction is expected to close in the third quarter of the calendar year.

Brookfield has commenced a tender offer to acquire all of the outstanding shares of common stock of CDK at a per share price of $54.87 in cash.

With approximately $2 billion in revenues, CDK is a leading provider of retail technology and software as a service solutions, which help auto dealerships and manufacturers run their businesses more efficiently.

Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.