Paychex second quarter earnings increased +25% from the year-ago quarter to 91 cents, vs. 80 cents expected by analysts polled by FactSet.
Revenue rose +13% to $1.109, compared to the $1.062 billion anticipated by analysts.
Looking ahead, the payroll management company now forecasts 2022 EPS growth of 18%-20% and revenue growth of 10%-11%. That's higher than its September forecast for EPS growth of 12%-14% and revenue growth of 8%. Analysts polled by FactSet had predicted 2022 EPS growth of 13.9% and revenue growth of 8.4%.