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Paychex Inc. Q3 adjusted earnings Beat Estimates

Paychex Inc. (PAYX) reported earnings for its third quarter that rose from last year.

The company's profit totaled $354.5M, or $0.98 per share. This compares with $324.6M, or $0.90 per share, in last year's third quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $351.2M or $0.97 per share for the period.

Analysts had expected the company to earn $0.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.5% to $1.14 billion from $1.07 billion last year.

Paychex Inc. earnings at a glance:

-Earnings (Q3): $351.2M. vs. $322.4 Mln. last year.
-EPS (Q3): $0.97 vs. $0.89 last year.
-Analysts Estimate: $0.95
-Revenue (Q3): $1.14 Bln vs. $1.07 Bln last year.

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