Paychex (PAYX) Tops Q3 EPS by 1c, Revenues Beat
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Paychex, Inc. Reports Third Quarter Results
March 27, 2019 8:30 AM EDTThird Quarter Fiscal 2019 Highlights
Total revenue increased 14% to $1.1 billion. Total service revenue increased 14% to $1.0 billion. Interest on funds held for clients increased 27% to $23.0 million. Operating income increased 16% to $429.3 million and adjusted operating income(1) increased 7% to $429.3 million. Net income decreased 12% to $324.6 million and adjusted net income(1) increased 3% to $322.4 million. Net income and adjusted net income for the three months ended February 28, 2018 were impacted by one-time net tax benefits recognized as a result of the Tax Cuts and Jobs Act (the Tax Act).... More