Paychex: Fiscal 1Q Earnings Snapshot
ROCHESTER, N.Y. (AP) _ Paychex Inc. (PAYX) on Tuesday reported fiscal first-quarter earnings of $243.6 million.
On a per-share basis, the Rochester, New York-based company said it had net income of 67 cents.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The payroll processor and human-resources services provider posted revenue of $862.8 million in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $849.8 million.
Paychex shares have climbed slightly more than 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 9 percent. The stock has increased 23 percent in the last 12 months.