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Paychex Fiscal 3Q Profit Slips On Investments

Stock quotes in this article: PAYX  

ROCHESTER, N.Y. (AP) — Paychex Inc., which provides payroll and personnel services, said Wednesday its fiscal third-quarter profit fell 8 percent as losses in investment income offset gains in other areas.

For the three months ended Feb. 28, the company earned $130.8 million, or 36 cents per share, compared with $142.5 million, or 39 cents per share in the year-ago period.

Revenue slipped 1 percent to $528.6 million, from $532.2 million a year earlier. ...

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