Paychex Q4 Earnings: CEO Highlights Challenges For Small And Mid-Size Businesses, Stock Slides
Portfolio Pulse from Anusuya Lahiri
Paychex, Inc (NASDAQ: PAYX) reported mixed fiscal Q4 results with a 5% sales growth to $1.295 billion, slightly below analyst estimates. Adjusted EPS of $1.12 beat expectations. CEO John Gibson highlighted challenges for small and mid-size businesses. PAYX shares fell 4.77% to $119.06.
June 26, 2024 | 3:03 pm
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Paychex reported mixed Q4 results with 5% sales growth to $1.295 billion, slightly below analyst estimates. Adjusted EPS of $1.12 beat expectations. CEO John Gibson highlighted challenges for small and mid-size businesses. PAYX shares fell 4.77% to $119.06.
The mixed earnings report, with sales slightly below expectations and CEO comments on challenges for small and mid-size businesses, likely contributed to the 4.77% drop in PAYX shares. Despite the EPS beat, the outlook and current business environment concerns weigh on investor sentiment.
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