Paycom Software Lifts FY22 Outlook

(RTTNews) - While reporting its first-quarter results on Tuesday, Paycom Software, Inc. (PAYC) lifted its outlook for the full year 2022.

Looking forward, the company now expects revenues of $1.333 billion to $1.335 billion and adjusted EBITDA of $533 million to $535 million. Analysts polled by Thomson Reuters currently estimate revenues of $1.32 billion for the full year 2022.

Previously, the company expected revenues of $1.314 billion to $1.316 billion and adjusted EBITDA of $524 million to $526 million.

For the second quarter, the company now expects revenues of $308 million to $310 million and adjusted EBITDA of $111 million to $113 million. Analysts currently estimate revenues of $300.89 million for the quarter.