Paylocity: Fiscal Q1 Earnings Snapshot

SCHAUMBURG, Ill. (AP) — SCHAUMBURG, Ill. (AP) — Paylocity Holding Corp. (PCTY) on Wednesday reported fiscal first-quarter net income of $49.6 million.

The Schaumburg, Illinois-based company said it had profit of 88 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were $1.66 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The provider of cloud-based payroll and human-resources software services posted revenue of $363 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $356.5 million.