Paycom results beat estimates on steady demand for payroll services
The results follow a strong report from rival Automatic Data Processing and show a stable labour market is feeding demand for payroll services providers, even as rising interest rates and still-high inflation cloud the industry's outlook. Paycom forecast current-quarter revenue between $410 million and $412 million, compared with estimates of $412 million, according to analysts polled by Refinitiv. Paycom has in recent years benefited from rising demand for its Beti service, which allows for sel