SCHAUMBURG, Ill. (AP) — SCHAUMBURG, Ill. (AP) — Paylocity Holding Corp. (PCTY) on Thursday reported fiscal second-quarter profit of $50.2 million.
The Schaumburg, Illinois-based company said it had profit of 92 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to $1.85 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.
The provider of cloud-based payroll and human-resources software services posted revenue of $416.1 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $408.9 million.
For the current quarter ending in March, Paylocity said it expects revenue in the range of $487 million to $492 million.
The company expects full-year revenue in the range of $1.73 billion to $1.74 billion.
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