Paychex Inc. Q2 Profit Increases, beats estimates

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

The company's earnings came in at $392.7 million, or $1.08 per share. This compares with $360.3 million, or $0.99 per share, in last year's second quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $391.6 million or $1.08 per share for the period.

Analysts on average had expected the company to earn $1.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.9% to $1.26 billion from $1.19 billion last year.

Paychex Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $392.7 Mln. vs. $360.3 Mln. last year. -EPS (Q2): $1.08 vs. $0.99 last year. -Analyst Estimate: $1.07 -Revenue (Q2): $1.26 Bln vs. $1.19 Bln last year.