INDEPENDENCE, Ohio (AP) — INDEPENDENCE, Ohio (AP) — CBIZ Inc. (CBZ) on Wednesday reported first-quarter earnings of $161.6 million.
On a per-share basis, the Independence, Ohio-based company said it had net income of $2.63. Earnings, adjusted for non-recurring gains, came to $2.50 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.28 per share.
The provider of outsourced business services posted revenue of $848.6 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $852.1 million.
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