Paychex Inc. Q3 Profit Increases, Beats Estimates

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

The company's bottom line totaled $519.3 million, or $1.43 per share. This compares with $498.6 million, or $1.38 per share, last year.

Excluding items, Paychex Inc. reported adjusted earnings of $541.1 million or $1.49 per share for the period.

Analysts on average had expected the company to earn $1.48 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 4.9% to $1.509 billion from $1.439 billion last year.

Paychex Inc. earnings at a glance (GAAP) :

-Earnings: $519.3 Mln. vs. $498.6 Mln. last year. -EPS: $1.43 vs. $1.38 last year. -Revenue: $1.509 Bln vs. $1.439 Bln last year.