Paycom Software, Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Paycom Software, Inc. (PAYC) released earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $64.5 million, or $1.11 per share. This compares with $57.4 million, or $0.99 per share, in last year's second quarter.

Excluding items, Paycom Software, Inc. reported adjusted earnings of $94.3 million or $1.62 per share for the period.

Analysts on average had expected the company to earn $1.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 26.6% to $401.1 million from $316.9 million last year.

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

-Earnings (Q2): $64.5 Mln. vs. $57.4 Mln. last year. -EPS (Q2): $1.11 vs. $0.99 last year. -Analyst Estimate: $1.59 -Revenue (Q2): $401.1 Mln vs. $316.9 Mln last year.

-Guidance: Next quarter revenue guidance: $410-$412 mln Full year revenue guidance: $1.715 to $1.717 bln