Investing.com - Paychex (NASDAQ:PAYX) reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Paychex announced earnings per share of $1.15 on revenue of $1.28B. Analysts polled by Investing.com anticipated EPS of $1.05 on revenue of $1.22B.
Paychex shares are down 2% from the beginning of the year, still down 4.63% from its 52 week high of $138.96 set on December 30, 2021. They are outperforming the S&P 500 which is down 2.82% from the start of the year.
Paychex shares gained 0.78% in pre-market trade following the report.
Paychex follows other major Information Technology sector earnings this month
Paychex's report follows an earnings beat by Broadcom on March 3, who reported EPS of $8.39 on revenue of $7.71B, compared to forecasts EPS of $8.13 on revenue of $7.61B.
Oracle had missed expectations on March 10 with third quarter EPS of $1.13 on revenue of $10.51B, compared to forecast for EPS of $1.18 on revenue of $10.51B.
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