Paycom Sees Q3 Revenues $444M-$449M vs $448.68M Est., Sees FY24 Revenues $1.86B-$1.875B vs $1.87B Est.
Portfolio Pulse from Benzinga Newsdesk
Paycom has provided its Q3 revenue guidance in the range of $444M-$449M, slightly below the consensus estimate of $448.68M. For FY24, the company expects revenues between $1.86B-$1.875B, close to the estimate of $1.87B.
July 31, 2024 | 8:12 pm
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Paycom's Q3 revenue guidance of $444M-$449M is slightly below the consensus estimate of $448.68M, which may cause short-term pressure on the stock. However, the FY24 revenue outlook of $1.86B-$1.875B aligns closely with the estimate of $1.87B, providing some reassurance to investors.
The slight miss in Q3 revenue guidance compared to estimates may lead to short-term negative sentiment among investors. However, the FY24 revenue outlook being close to estimates could mitigate some of the negative impact.
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