Paychex (NASDAQ:PAYX) earnings for the first quarter of fiscal year 2021 have PAYX stock ticking lower on Tuesday morning. This is despite reporting revenue of $932.2 million, which is better than Wall Street’s estimate of $895.38 million. The company also reported adjusted earnings per share (EPS) of 63 cents, while analysts were expecting EPS of 55 cents for the quarter.
The company also reported GAAP EPS of 59 cents for the period.
Here is what else is worth mentioning from the most recent Paychex earnings report.
- Adjusted EPS was down 11% from 71 cents during Q1 2020.
- Revenue for the quarter comes in 6% lower compared to $992 million during the same