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Paychex Stock Drops After Mixed Q2 Performance

Payroll services company Paychex Inc (NASDAQ: PAYX) reported second-quarter FY24 sales growth of 6% year-on-year to $1.26 billion, slightly missing the analyst consensus estimate of $1.27 billion. Adjusted EPS of $1.08 beat the analyst consensus estimate of $1.07. Selling, general and administrative expenses climbed 8% to $387.6 million. Operating income for the quarter increased 7% to $506.2 million with an operating margin of 40.2%, a 50 basis point expansion. The company held $1.4 billion in
John Gibson Paychex Inc Chief Executive Officer Small Business Employment Watch Stock Market Game Benzinga Pro
Source: yahoo.com

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