Paycom Software, Inc. Q3 Profit Increases, beats estimates

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

The company's bottom line came in at $52.15 million, or $0.90 per share. This compares with $30.38 million, or $0.52 per share, in last year's third quarter.

Excluding items, Paycom Software, Inc. reported adjusted earnings of $73.43 million or $1.27 per share for the period.

Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 30.4% to $334.17 million from $256.19 million last year.

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

-Earnings (Q3): $52.15 Mln. vs. $30.38 Mln. last year. -EPS (Q3): $0.90 vs. $0.52 last year. -Analyst Estimate: $1.18 -Revenue (Q3): $334.17 Mln vs. $256.19 Mln last year.

-Guidance: Next quarter revenue guidance: $366 - $368 Mln Full year revenue guidance: $1.371 - $1.373 Bln