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Paychex Reports First Quarter Results
Paychex, Inc. today announced total service revenue of $773.5 million for the three months ended August 31, 2016, an increase of 9% from $712.2 million for the same period last year. Net income increased 4% to $217.4 million and diluted earnings per share increased 3% to $0.60 per share for the first quarter. Net income and diluted earnings per share were impacted by changes in the effective income tax rate resulting from discrete tax items recognized in the first quarter and respective period last year, which are discussed further on page 3.