Paychex Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Paychex Inc. (PAYX) released a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $379.2 million, or $1.05 per share. This compares with $333.6M, or $0.92 per share, in last year's first quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $371.9M or $1.03 per share for the period.

Analysts on average had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.5% to $1.206 billion from $1.082 billion last year.

Paychex Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $379.2 Mln. vs. $333.6M. last year. -EPS (Q1): $1.05 vs. $0.92 last year. -Analyst Estimate: $0.97 -Revenue (Q1): $1.206 Bln vs. $1.082 Bln last year.