By Aisha Al-Muslim

Paychex Inc. (PAYX) reported a profit on Wednesday for the second quarter of $235.8 million, or 65 cents a share, up from $198.8 million, or 55 cents a share, a year earlier. Adjusted earnings were 65 cents a share, beating the 63 cents a share analysts polled by Refinitiv were looking for.

Revenue rose 7% to $858.9 million, slightly ahead of the consensus forecast of $858.3 million.

For fiscal 2019, the company revised its guidance. The company now expects adjusted earnings per share to increase 11% to 12%, up from its initial guidance of a 7% to 8% increase. Its guidance for total revenue remains unchanged and is expected to increase in the range of 6% to 7%.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

December 19, 2018 09:03 ET (14:03 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Paychex (NASDAQ:PAYX)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Paychex Charts.
Paychex (NASDAQ:PAYX)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Paychex Charts.