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Stock impact report

Paycom beats quarterly revenue estimates on strong payroll services demand [Yahoo! Finance]

Automatic Data Processing, Inc. (ADP) 
Last automatic data processing, inc. earnings: 4/29 06:56 am Check Earnings Report
US:NASDAQ Investor Relations: investors.adp.com
Company Research Source: Yahoo! Finance
Shares of the Oklahoma City-based company were up 6.3% in trading after the bell. Cooling inflation and a strong job market are encouraging businesses to hire more, increasing the demand for workforce management solutions like those from Paycom. Recently, Paycom has seen a rise in interest in its Beti service, which allows for self-service payroll and automation. In May, the company announced plans to expand Beti into Ireland. The payroll processor reported revenue of $452 million for the third quarter ended Sept. 30, above analysts' average estimate of $447 million, according to data compiled by LSEG. Paycom forecast current-quarter revenue in the range of $477 million to $484 million, compared with estimates of $483.1 million. The company now sees fiscal 2024 revenue between $1.866 billion and $1.873 billion, compared to its prior projection of $1.860 billion to $1.875 billion. Analysts, on average, expect revenue of $1.87 billion. Paycom's results come after rival Auto Show less Read more
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