UPDATE: Paychex Posts In-Line FQ2 Profit

Paychex

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.