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 story : PayChex tops profit and revenue expectations, provides upbeat outlook #FinanceUSA #StockMarketNEWS Shares of Paychex Inc. edged up 0.1% in premarket trading Wednesday, after the human resources services

@stockMarketNEWS Thu 30 Jun, 2022

Posted in: #FinanceUSA #StockMarketNEWS

PayChex tops profit and revenue expectations, provides upbeat outlook #FinanceUSA #StockMarketNEWS
Shares of Paychex Inc. edged up 0.1% in premarket trading Wednesday, after the human resources services company reported fiscal fourth-quarter profit and revenue that just topped expectations, while providing an upbeat full-year outlook. Net income for the quarter to May 31 rose to 6.4 million, or 82 cents a share, from 3.0 million, or 73 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 81 cents was above the FactSet consensus of 80 cents. Revenue grew 11.2% to .14 billion, topping the FactSet consensus of .11 billion. Operating margin was 34.4%, in line with a year ago. For fiscal 2023, the company expects adjusted EPS growth of 9% to 10%, while the current FactSet EPS consensus of .06 implies 7.7% growth. The stock has lost 9.6% over the past three months through Tuesday, while the S&P 500 has dropped 17.5%.


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