Alight's profit up 16% in second quarter

LINCOLNSHIRE - Alight, a cloud-based provider of human resources and business solutions, said total revenue increased 3.9% to $672 million for the three months ended June 30, from $647 million for the prior year period.

The increase was driven by a 5.4% increase in Employer Solutions revenue and a 3.4% increase in Professional Services revenue, partially offset by a 38.9% decline in Hosted Business revenue, the company said Thursday.

"At Alight, we are powering human capital by bringing to market the first integrated employee benefits engagement platform, Alight Worklife, which drives improved outcomes and productivity through a personalized experience for our more than 30 million participants and their family members," said Chief Executive Officer Stephan Scholl.

Gross profit, inclusive of depreciation and amortization, increased 16% to $217 million, or 32.3% of revenue, for the quarter, up from $187 million, or 28.9% of revenue, in the prior year period.

On July 29, the company entered into a definitive agreement to acquire the Aon Retiree Health Exchange business from Aon PLC. The transaction is expected to be completed during the fourth quarter and remains subject to regulatory approvals and other customary closing conditions.