Investing.com -- Paychex Inc (NASDAQ:PAYX) has reported better-than-anticipated earnings in its fiscal first quarter, as the payroll processor said artificial intelligence helped power its offerings to clients.
The Rochester, New York-based business, which specializes in providing human resource services to small- and medium-sized companies, posted adjusted income per share to $1.14 during the three months ended on August 31, an 11% increase compared to the same period last year. Bloomberg consensus estimates had seen the figure at $1.12. Revenue also climbed to $1.29 billion, just above expectations of $1.28B.
In a statement, Chief Executive Officer and President John Gibson said customer demand remained strong, adding "[b]y harnessing the power of Artificial Intelligence and leveraging our vast data sets, we are delivering more actionable insights."
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.