Paychex Inc. Q2 Profit Increases, beats estimates

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

The company's bottom line came in at $360.3 million, or $0.99 per share. This compares with $332.1 million, or $0.91 per share, in last year's second quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $359.4 million or $0.99 per share for the period.

Analysts on average had expected the company to earn $0.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.2% to $1.19 billion from $1.11 billion last year.

Paychex Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $360.3 Mln. vs. $332.1 Mln. last year. -EPS (Q2): $0.99 vs. $0.91 last year. -Analyst Estimate: $0.95 -Revenue (Q2): $1.19 Bln vs. $1.11 Bln last year.