Categories AlphaGraphs, Earnings, Finance
Paychex (PAYX) Q2 earnings top expectations; revenues rise 7%
Paychex Inc. (NASDAQ: PAYX) on Thursday said its earnings increased year-over-year in the second quarter of 2023, helped by strong revenue growth. Earnings also surpassed analysts’ consensus forecast.
Revenues of the Rochester-based human capital management solutions provider grew by 7% and reached $1.19 billion in the November quarter and matched expectations. All three operating segments registered growth.
The positive top-line performance translated into a 9% increase in adjusted net earnings to $0.99 per share in the latest quarter from $0.91 per share in the same period of 2022. Net income, including special items, was $360.3 million or $0.99 per share, up from last year’s profit of $332.1 million or $0.91 per share.
Check this space to read management/analysts’ comments on quarterly reports
Paychex’s CEO John Gibson said, “We continue to leverage our innovative HR technology and advisory solutions to help employers navigate this challenging environment. We’ve helped more than 50,000 of our clients secure available government funding through the Employee Retention Tax Credit program.”
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results
Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew
Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results
Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter
McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings
Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings