Paychex’s (PAYX) Q4 earnings and revenue decreases, but exceeds estimates

Paychex (NASDAQ: PAYX) reported fourth quarter 2020 earnings results. Adjusted earnings of $0.61 per share and revenue of $915.1 million decreased year-over-year. However, the company’s bottom and top-line results surpassed market’s view.

For FY21, Paychex expects adjusted EPS to decline in the range of 6% to 10% and revenue to decline in the range of 2% to 5%.

Paychex stock, which decreased 9% so far this year, inched up immediately after the earnings announcement and then declined about 1% in the before market trading hours.