Paychex Narrowly Beats on Q3 EPS

Paychex beat EPS estimates by the slimmest of margins in its just-released fiscal Q3 2013 results. For the quarter, total revenue amounted to $593 million, up 4% from the $570 million in the same period of 2012. Net profit also increased, by 7% to $145 million ($0.40 per diluted share) from Q3 2012's bottom line of $135 million ($0.37).

Analysts had been anticipating revenue of $593 million and EPS of $0.39 for the most recent quarter.

Paychex also provided forward guidance for the immediate future. For the current fiscal year, which ends May 31, total service revenue is expected to grow 2%-3% over that of 2012, while the company believes its net income will increase 5%-7%.

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