Paychex Inc. Q1 adjusted earnings Beat Estimates

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

The company's profit totaled $333.6 million, or $0.92 per share. This compares with $211.6 million, or $0.59 per share, in last year's first quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $323.2 million or $0.89 per share for the period.

Analysts had expected the company to earn $0.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.1% to $1.08 billion from $0.93 billion last year.

Paychex Inc. earnings at a glance:

-Earnings (Q1): $323.2 Mln. vs. $228.0 Mln. last year. -EPS (Q1): $0.89 vs. $0.63 last year. -Analysts Estimate: $0.80 -Revenue (Q1): $1.08 Bln vs. $0.93 Bln last year.