Paychex Inc. Q3 adjusted earnings Beat Estimates

Paychex Inc. (PAYX) announced a profit for third quarter that declined from last year.

The company's earnings totaled $350.5 million, or $0.97 per share. This compares with $354.5 million, or $0.98 per share, in last year's third quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $348.8 million or $0.96 per share for the period.

Analysts had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.6% to $1.11 billion from $1.14 billion last year.

Paychex Inc. earnings at a glance:

-Earnings (Q3): $348.8 Mln. vs. $351.2 Mln. last year.
-EPS (Q3): $0.96 vs. $0.97 last year.
-Analysts Estimate: $0.92
-Revenue (Q3): $1.11 Bln vs. $1.14 Bln last year.

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