UPDATE: Paychex Posts In-Line FQ2 Profit
Paychex (NASDAQ: PAYX) reported a 5.3% rise in its fiscal second-quarter earnings.
Paychex's quarterly profit surged to $147.9 million, or $0.41 per share, from $140.4 million, or $0.39 per share, in the year-ago period.
Its revenue surged 4.3% to $569.4 million. However, analysts expected a profit of $0.41 per share on revenue of $573 million.
Its operating margin rose to 40.4% from 39.9%.
Paychex shares closed at $33.05 yesterday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.