trending Market Intelligence /marketintelligence/en/news-insights/trending/q7ihfcsqit20vxx_ghy0kg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Paychex updates FY'18 outlook

Paypal Well-Positioned To Gain Share In COVID-Related Digital Payments Shift

Digital Banking Battles Will Play Out In Southeast Asias Shopping Cart

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Fed Officials Signal Optimism In US Economy Reiterate Rates Likely On Hold


Paychex updates FY'18 outlook

Paychex Inc. updated its outlook for its 2018 fiscal year to include the impact of U.S. tax reforms and the acquisition of Lessor Group, a provider of payroll and human capital management software services.

The company stated that human resources revenue is anticipated to increase in the range of 13% to 14% while total revenue is expected to grow approximately 7%. Paychex had predicted human resources revenue to rise 12% to 14% and total revenue to increase 6%.

Net income is expected to rise approximately 13% and adjusted net income is projected to increase approximately 15%. The company previously expected net income to increase about 5% and adjusted net income to go up about 7%.

Additionally, diluted earnings per share is expected to grow in the range of 13% to 14% and adjusted diluted earnings per share is predicted to increase in the range of 15% to 16%. Previously, diluted earnings per share was expected to increase in the range of 5% to 6% and adjusted diluted earnings per share was expected to rise in the range of 7% to 8%.

Paychex also reported net income of $260.4 million, or 72 cents per share, for its fiscal third quarter ending Feb. 28, up from $202.5 million, or 56 cents per share, in the prior-year period. Adjusted net income was $227.5 million, or 63 cents per share, compared with $199.3 million, or 55 cents per share, in the year-ago quarter.