Paychex Releases Earnings Report
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Paychex announced a three percent increase in total service revenue in the first quarter of this fiscal year compared to last year.
Total service revenue was a little more than $568 million. Paychex also reported a two percent increase of diluted earnings per share to 42-cents a share and a net income increase of three percent or $153.1 million.
Total expenses also increased by two percent to $342 million
Paychex said that was due to investments in product development and supporting technology.