08:09 AM EDT, 07/31/2024 (MT Newswires) -- Dayforce ( DAY ) reported Wednesday a second quarter net loss of US$1.8 million, compared to net income US$3.1 million.

The adjusted net income rose to US$76.2 million from US$50.8 million.

The diluted net loss per share was US$0.01, compared to diluted net income per share of US$0.02, and the adjusted diluted net income per share was US$0.48, compared to US$0.32.

Revenue rose 16% to US$423.3 million.

"Our strong results are translating into improved cash flow generation, prompting our Board of Directors to approve a $500 million share repurchase program," Chief Financial Officer Jeremy Johnson said.