Paychex Inc. registered earnings of 65 cents a share in the second quarter, which is +18% higher than year-ago period’s per share earnings. The payroll & human resources company generated adjusted earnings of 65 cents per share, surpassing analysts’ expectation of 63 cents per share (as polled by Refinitiv). For fiscal 2019, the company projects its adjusted earnings per share to increase in the range of 11-12% - an upward revision from its initial guidance of a 7- 8% increase.
Paychex’s revenue climbed +7% year-over-year to touch $858.9 million in the second quarter. That’s higher than analysts’ estimate of $858.3 million. Its guidance for fiscal 2019 total revenue growth is in the range of 6-7%.