CBIZ Inc. Q2 Profit Decreases, Misses Estimates

(RTTNews) - CBIZ Inc. (CBZ) reported earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $19.79 million, or $0.39 per share. This compares with $26.86 million, or $0.53 per share, in last year's second quarter.

Excluding items, CBIZ Inc. reported adjusted earnings of $24.95 million or $0.50 per share for the period.

Analysts on average had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.4% to $420.01 million from $398.50 million last year.

CBIZ Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $19.79 Mln. vs. $26.86 Mln. last year. -EPS (Q2): $0.39 vs. $0.53 last year. -Revenue (Q2): $420.01 Mln vs. $398.50 Mln last year.

-Guidance: Full year EPS guidance: $2.64-$2.69