Paychex Earnings Report

SAN FRANCISCO (MarketWatch) --

PAYX 32.88, -0.41, -1.2%) on Wednesday reported a third-quarter profit of $142.5 million, or 39 cents a share, to meet the estimates of analysts surveyed by FactSet Research. The payroll services provider reported revenue of $532.2 million, slightly below analysts $532.8 million estimate. During the same period a year ago, Paychex earned $126.6 million, or 33 cents a share, on $485.3 million in sales. The company said that for its entire fiscal year, it expects its earnings to rise between 11% and 13%, and its sales to grow 9% to 11% over the prior year, when it earned $531.5 million on $1.89 billion in revenue.