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Paychex Reports In-Line Quarter
Paychex(PAYX Quote) saw its fiscal third-quarter net income and revenue fall slightly, but its earnings per share were in line with Wall Street estimates.
The Rochester, N.Y.-based payroll services outfit said Wednesday that its profit dropped to $130.8 million, or 36 cents a share, from $142.5 million, or 39 cents a share in the year-ago period. Revenue fell to $528.6 million from $532.2 million.
Analysts surveyed by Thomson Reuters expected EPS of 36 cents on revenue of $536.9 million. ...
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