Paychex (PAYX) Tops Q1 EPS by 3c; Updates FY17 Outlook
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Paychex, Inc. Reports First Quarter Results
September 28, 2016 8:30 AM EDTFirst Quarter Fiscal 2017 Highlights
Total revenue increased 9% to $785.5 million. Total service revenue also increased 9% to $773.5 million. Payroll service revenue increased 4% to $450.9 million. Human Resource Services revenue increased 15% to $322.6 million. Operating income increased 9% to $323.0 million. Net income increased 4% to $217.4 million and diluted earnings per share increased 3% to $0.60 per share. Net income and diluted earnings per share were both impacted by changes in the effective income tax rate resulting from discrete tax... More