AP NEWS

Paychex: Fiscal 3Q Earnings Snapshot

March 25, 2020 GMT

ROCHESTER, N.Y. (AP) _ Paychex Inc. (PAYX) on Wednesday reported fiscal third-quarter profit of $354.5 million.

The Rochester, New York-based company said it had profit of 98 cents per share. Earnings, adjusted for non-recurring gains, were 97 cents per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.

The payroll processor and human-resources services provider posted revenue of $1.14 billion in the period, which matched Street forecasts.

Paychex shares have dropped 30% since the beginning of the year, while the Standard & Poor’s 500 index has declined 24%. The stock has declined 24% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAYX at https://www.zacks.com/ap/PAYX