Paychex Inc. Q3 Profit Increases, beats estimates

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

The company's earnings totaled $467.4 million, or $1.29 per share. This compares with $430.7 million, or $1.19 per share, in last year's third quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $466.7 million or $1.29 per share for the period.

Analysts on average had expected the company to earn $1.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.8% to $1.38 billion from $1.28 billion last year.

Paychex Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $467.4 Mln. vs. $430.7 Mln. last year. -EPS (Q3): $1.29 vs. $1.19 last year. -Analyst Estimate: $1.24 -Revenue (Q3): $1.38 Bln vs. $1.28 Bln last year.