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%.
The article Paychex Narrowly Beats on Q3 EPS originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Paychex. The Motley Fool recommends Paychex. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.