OKLAHOMA CITY (AP) — OKLAHOMA CITY (AP) — Paycom Software Inc. (PAYC) on Tuesday reported fourth-quarter net income of $80 million.
On a per-share basis, the Oklahoma City-based company said it had profit of $1.38. Earnings, adjusted for stock option expense, came to $1.73 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The maker of human-resources and payroll software posted revenue of $370.6 million in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $367.1 million.
For the year, the company reported profit of $281.4 million, or $4.84 per share. Revenue was reported as $1.38 billion.
For the current quarter ending in March, Paycom said it expects revenue in the range of $443 million to $445 million.
The company expects full-year revenue of $1.7 billion.
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.