Paycom Software, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Paycom Software, Inc. (PAYC) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $247.19 million, or $4.37 per share. This compares with $119.30 million, or $2.06 per share, in last year's first quarter.

Excluding items, Paycom Software, Inc. reported adjusted earnings of $146.65 million or $2.59 per share for the period.

Analysts on average had expected the company to earn $2.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.7% to $499.88 million from $451.64 million last year.

Paycom Software, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $247.19 Mln. vs. $119.30 Mln. last year. -EPS (Q1): $4.37 vs. $2.06 last year. -Revenue (Q1): $499.88 Mln vs. $451.64 Mln last year.

-Guidance: Next quarter revenue guidance: $434 - $438 Mln Full year revenue guidance: $1.860 - $1.885 Bln