Paychex's Stock Gains On Q4 Earnings: The Details
Portfolio Pulse from Anusuya Lahiri
Paychex, Inc reported Q4 FY23 revenue growth of 7% YoY to $1.23 billion, beating the consensus of $1.22 billion. Total service revenue grew 7% YoY to $1.20 billion. Operating income increased by 15% YoY to $453.3 million. For FY23, Paychex expects revenue to grow by 6% - 7%, and adjusted EPS to grow by 9% - 10%. Following the announcement, PAYX shares traded higher by 2.16% at $113.10 premarket.
June 29, 2023 | 1:21 pm
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Paychex reported a 7% YoY growth in Q4 FY23 revenue, beating consensus. The company expects a positive FY23 with revenue and EPS growth. PAYX shares rose 2.16% premarket.
Paychex's Q4 FY23 revenue beat consensus and the company has a positive outlook for FY23, expecting growth in revenue and EPS. This positive financial performance and outlook is likely to boost investor confidence, leading to a rise in PAYX's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100