Paychex Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Paychex Inc. (PAYX) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $419.2 million, or $1.16 per share. This compares with $379.2 million, or $1.05 per share, in last year's first quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $415.1 million or $1.14 per share for the period.

Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.6% to $1.29 billion from $1.21 billion last year.

Paychex Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $419.2 Mln. vs. $379.2 Mln. last year. -EPS (Q1): $1.16 vs. $1.05 last year. -Analyst Estimate: $1.12 -Revenue (Q1): $1.29 Bln vs. $1.21 Bln last year.