Paychex Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Paychex Inc. (PAYX) revealed a profit for first quarter that Decreased from last year but beat the Street estimates.

The company's earnings came in at $383.8 million, or $1.06 per share. This compares with $427.4 million, or $1.18 per share, last year.

Excluding items, Paychex Inc. reported adjusted earnings of $440.8 million or $1.22 per share for the period.

Analysts on average had expected the company to earn $1.20 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 16.8% to $1.540 million from $1.318 million last year.

Paychex Inc. earnings at a glance (GAAP) :

-Earnings: $383.8 Mln. vs. $427.4 Mln. last year. -EPS: $1.06 vs. $1.18 last year. -Revenue: $1.540 Mln vs. $1.318 Mln last year.