Paycom Software, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Paycom Software, Inc. (PAYC) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $119.30 million, or $2.06 per share. This compares with $91.93 million, or $1.58 per share, in last year's first quarter.

Excluding items, Paycom Software, Inc. reported adjusted earnings of $142.65 million or $2.46 per share for the period.

Analysts on average had expected the company to earn $2.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 27.8% to $451.64 million from $353.52 million last year.

Paycom Software, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $119.30 Mln. vs. $91.93 Mln. last year. -EPS (Q1): $2.06 vs. $1.58 last year. -Analyst Estimate: $2.35 -Revenue (Q1): $451.64 Mln vs. $353.52 Mln last year.

-Guidance: Next quarter revenue guidance: $397 - $399 Mln Full year revenue guidance: $1.713 - $1.715 Bln