Paychex Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Paychex Inc. (PAYX) released 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 $413.4 million, or $1.14 per share. This compares with $392.7 million, or $1.08 per share, in last year's second quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $1.14 per share for the period.

Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.7% to $1.316 billion from $1.257 billion last year.

Paychex Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $413.4 Mln. vs. $392.7 Mln. last year. -EPS (Q2): $1.14 vs. $1.08 last year. -Revenue (Q2): $1.316 Bln vs. $1.257 Bln last year.