Categories AlphaGraphs, Earnings, Other Industries
PAYX Earnings: Paychex Q4 profit rises and beats estimates; revenue up 11%
Payroll solutions provider Paychex Inc. (NASDAQ: PAYX) reported higher earnings and revenues for the fourth quarter of 2022. The results also topped Wall Street’s expectations.
At $1.14 billion, fourth-quarter revenues were up 11% year-over-year and above the consensus forecast. The top line benefited from strong performance by the main operating segments.
Adjusted profit, excluding special items, moved up to $0.81 per share from $0.72 per share in the comparable period in fiscal 2021. On a reported basis, net income was $296.4 million or $0.82 per share in the latest quarter, compared to $263 million or $0.73 per share in the prior-year period.
Check this space to read management/analysts’ comments on Paychex’s Q4 2022 results
“We delivered double-digit revenue and earnings growth compared to the prior year. Our sales teams achieved a record level of new annualized revenue sold and client retention remained above our expectations and pre-pandemic levels,” said Martin Mucci, CEO of Paychex.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
WMT Earnings: All you need to know about Walmart’s Q2 2023 earnings results
Walmart Inc. (NYSE: WMT) reported second quarter 2023 earnings results today. Total revenue increased 8.4% year-over-year to $152.9 billion. Revenues grew 9.1% in constant currency. Consolidated net income attributable to
Rivian (RIVN) reaffirms production goals. Will it be a smooth ride?
The evolution of the electric vehicle industry accelerated in recent years even as innovations in battery technology and affordability brought EVs into the mainstream. Encouraged by the success of market
Pfizer (PFE): A look at the headwinds and tailwinds this pharma giant faces in the near term
Shares of Pfizer Inc. (NYSE: PFE) were down on Monday. The stock has dropped 15% year-to-date and there is a mixed sentiment surrounding the company’s growth prospects. Pfizer has benefited