Paylocity: Fiscal 1Q Earnings Snapshot
SCHAUMBURG, Ill. (AP) _ Paylocity Holding Corp. (PCTY) on Thursday reported fiscal first-quarter net income of $12.5 million.
The Schaumburg, Illinois-based company said it had profit of 22 cents per share. Earnings, adjusted for one-time gains and costs, came to 38 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The provider of cloud-based payroll and human-resources software services posted revenue of $135.8 million in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $133.9 million.
For the current quarter ending in January, Paylocity said it expects revenue in the range of $141 million to $145 million.
Paylocity shares have increased 58% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $191.02, an increase of 86% in the last 12 months.