ROCHESTER, N.Y. (AP) — ROCHESTER, N.Y. (AP) — Paychex Inc. (PAYX) on Tuesday reported fiscal first-quarter profit of $427.4 million.
On a per-share basis, the Rochester, New York-based company said it had profit of $1.18. Earnings, adjusted for pretax gains, came to $1.16 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The payroll processor and human-resources services provider posted revenue of $1.32 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.31 billion.
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