Paychex Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Paychex Inc. (PAYX) released earnings for first quarter that dropped from the same period last year.

The company's bottom line came in at $211.6 million, or $0.59 per share. This compares with $264.2 million, or $0.73 per share, in last year's first quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $228.0 million or $063 per share for the period.

Analysts had expected the company to earn $0.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.0% to $932.2 million from $992.0 million last year.

Paychex Inc. earnings at a glance:

-Earnings (Q1): $228.0 Mln. vs. $257.6 Mln. last year. -EPS (Q1): $063 vs. $0.71 last year. -Analysts Estimate: $0.55 -Revenue (Q1): $932.2 Mln vs. $992.0 Mln last year.