- Retirement services revenue was positively impacted by client growth and an increase in the average asset value of retirement services client employees’ funds, offset partially by the impact from a shift in the mix of assets within these funds to investments that earn lower fees from external fund managers.
- Paychex HR Solutions revenue was positively impacted by price increases and growth in both clients and client employees. The rate of growth for Paychex HR Solutions revenue was tempered by fewer client employees within our professional employer organization, compared to the same period last year.
- Insurance services revenue continues to benefit from the growth in health and benefits services applicants and increases in both clients and premiums in workers’ compensation insurance services.
Paychex, Inc. Reports Second Quarter Results
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