Investing.com - Paychex reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Paychex announced earnings per share of $0.91 on revenue of $1.11B. Analysts polled by Investing.com anticipated EPS of $0.7974 on revenue of $1.06B.
Paychex shares are up 35% from the beginning of the year and are trading at $130.50 , down-from-52-week-high.They are outperforming the S&P 500 which is up 23.78% from the start of the year.
Paychex shares gained 3.22% in pre-market trade the report.
Paychex follows other major Information Technology sector earnings this month
Paychex's report follows an earnings beat by Broadcom on December 9, who reported EPS of $7.81 on revenue of $7.41B, compared to forecasts EPS of $7.74 on revenue of $7.36B.
Adobe had matched expectations on December 16 with fourth quarter EPS of $3.2 on revenue of $4.11B, compared to forecast for EPS of $3.2 on revenue of $4.09B.
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