ROCHESTER, N.Y. (AP) — ROCHESTER, N.Y. (AP) — Paychex Inc. (PAYX) on Wednesday reported fiscal fourth-quarter earnings of $420.6 million.
The Rochester, New York-based company said it had net income of $1.17 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.32 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.
The payroll processor and human-resources services provider posted revenue of $1.61 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.6 billion.
For the year, the company reported profit of $1.76 billion, or $4.89 per share. Revenue was reported as $6.51 billion.
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