Estimated reading time: 0 minutes, 31 seconds
Paychex Net Rises by 6 Percent
Paychex reported a 6-percent increase in net income on 3-percent increase in net income for the second quarter ended November 30. Those results were a factor in the company's outlook for the current fiscal year with Paychex anticipating payroll services revenue will rise by 1 percent to 2 percent and human resource services revenue by 10 percent to 13 percent.
Net income reached $133.9 million in the year just ended, compared to $125.8 million a year earlier. Second-quarter revnue was $512 million, up from $496.6 million in last year's corresponding period. The company reported payroll service revenue of $354.8 million, up 1 percent, and HR service revenue of $145.2 million, a 10-percent increase from the prioer year.
Latest from The Progressive Accountant
Most Read
-
-
Jan 23 2024
-
Written by Bob Scott
Intuit used deceptive advertising in calling some of its TurboTax…
-
-
-
Nov 10 2023
-
Written by Bob Scott
Revenue for Thomson Reuters Tax & Accounting Professionals increased by…
-
-
-
Oct 30 2023
-
Written by Bob Scott
CPA.com has released a toolkit to help accounting and finance professionals…
-
-
-
Jan 23 2024
-
Written by Bob Scott
The Internal Revenue Service is redesigning the roughly 170 million…
-