Paycom Software (NYSE: PAYC) reported Q1 EPS of $1.33, $0.06 better than the analyst estimate of $1.27. Revenue for the quarter came in at $242.4 million versus the consensus estimate of $238.83 million.

Financial Outlook:

Paycom is withdrawing its previously issued full-year 2020 guidance in light of macroeconomic uncertainties, particularly unemployment, arising from the current COVID-19 crisis.

“Our large market opportunity, profitable recurring business and attractive value proposition will help us mitigate the impact of headcount reductions across our client base,” said Paycom’s chief financial officer, Craig Boelte. “We continue to analyze the impact the pandemic is having on our client base and are hopeful to return to providing quarterly and full-year guidance once we have more visibility into the effects of the COVID-19 pandemic on the economy, specifically as unemployment numbers become more predictable.”

For earnings history and earnings-related data on Paycom Software (PAYC) click here.