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.
For the current quarter ending in December, Paylocity said it expects revenue in the range of $364 million to $369 million.
The company expects full-year revenue in the range of $1.54 billion to $1.55 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PCTY at https://www.zacks.com/ap/PCTY