Paychex (PAYX) Misses Q4 EPS by 1c, Offers Outlook
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Paychex, Inc. Reports Fourth Quarter and Fiscal 2018 Results
June 27, 2018 8:30 AM EDTFourth Quarter and Full Year Fiscal 2018 Highlights
Total revenue increased 9% to $871.1 million for the fourth quarter; 7% to $3.4 billion for fiscal 2018. Human Resource Services revenue increased 17% to $401.0 million for the fourth quarter; 14% to $1.5 billion for fiscal 2018. Payroll service revenue increased 3% to $452.4 million for the fourth quarter; 2% to $1.8 billion for fiscal 2018. Interest on funds held for clients increased 27% to $17.7 million for the fourth quarter; 26% to $63.5 million for fiscal 2018. Operating income increased 6% to $317.8 million for the fourth quarter; 4% to $1.3 billion for fiscal 2018. Adjusted operating... More