Paychex Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Paychex Inc. (PAYX) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $332.1 million, or $0.91 per share. This compares with $272.4 million, or $0.75 per share, in last year's second quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $329.8 million or $0.91 per share for the period.

Analysts on average 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 13.3% to $1.11 billion from $0.98 billion last year.

Paychex Inc. earnings at a glance:

-Earnings (Q2): $332.1 Mln. vs. $272.4 Mln. last year. -EPS (Q2): $0.91 vs. $0.75 last year. -Analyst Estimate: $0.80 -Revenue (Q2): $1.11 Bln vs. $0.98 Bln last year.