Paycom Software, Inc. Q2 adjusted earnings Inline With Estimates

(RTTNews) - Paycom Software, Inc. (PAYC) reported a profit for second quarter that dropped from the same period last year.

The company's profit totaled $28.59 million, or $0.49 per share. This compares with $48.76 million, or $0.83 per share, in last year's second quarter.

Excluding items, Paycom Software, Inc. reported adjusted earnings of $35.94 million or $0.62 per share for the period.

Analysts had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.3% to $181.59 million from $169.31 million last year.

Paycom Software, Inc. earnings at a glance:

-Earnings (Q2): $35.94 Mln. vs. $43.74 Mln. last year. -EPS (Q2): $0.62 vs. $0.75 last year. -Analysts Estimate: $0.62 -Revenue (Q2): $181.59 Mln vs. $169.31 Mln last year.

-Guidance: Next quarter revenue guidance: $191 - $193 Mln