Paychex: Fiscal 2Q Earnings Snapshot
ROCHESTER, N.Y. (AP) _ Paychex Inc. (PAYX) on Wednesday reported fiscal second-quarter earnings of $235.8 million.
On a per-share basis, the Rochester, New York-based company said it had profit of 65 cents.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The payroll processor and human-resources services provider posted revenue of $858.9 million in the period, also surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $856.2 million.
Paychex shares have fallen 5.5 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined roughly 5 percent. The stock has declined slightly more than 8 percent in the last 12 months.