SCHAUMBURG, Ill. (AP) — SCHAUMBURG, Ill. (AP) — Paylocity Holding Corp. (PCTY) on Tuesday reported fiscal first-quarter net income of $48 million.
On a per-share basis, the Schaumburg, Illinois-based company said it had profit of 86 cents. Earnings, adjusted for stock option expense and amortization costs, came to $1.75 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
The provider of cloud-based payroll and human-resources software services posted revenue of $408.2 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $400.4 million.
For the current quarter ending in December, Paylocity said it expects revenue in the range of $405.5 million to $410.5 million.
The company expects full-year revenue in the range of $1.72 billion to $1.73 billion.
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