Paychex, Inc. Reports Second Quarter Results: Revenue Advances 13% and Diluted Earnings Per Share Grows 21%; Company Raises Business Outlook for the Year :: Paychex, Inc. (PAYX)Martin Mucci, Chairman and Chief Executive Officer, commented, “We posted strong financial results for the second quarter of fiscal 2022, with growth of 13% in total revenue and 21% in diluted earnings per share. Results were driven by growth in employees within our client base and continued strong sales growth and client retention.
The environment is more complicated than ever for small- and medium-sized businesses. Trends that emerged during the pandemic continue unabated, particularly the demand for human resource (“HR”) advice and the need for benefits packages that address talent needs. We continue to support our clients in a proactive manner, as we have done throughout the pandemic. We have assisted businesses in securing $6.0 billion in employee retention and paid leave tax credits to date. Most recently, we introduced an automated tool that businesses can leverage to capture and store employee vaccination status and communicate with their employees on an ongoing basis.”
Mr. Mucci continued, “Our robust set of COVID-19-related tools is only a part of the integrated technology solutions we offer through our digital platform, Paychex Flex®. We are committed to leveraging our human capital management (“HCM”) technology to assist our clients in maximizing efficiency as we continue to introduce innovative, responsive HR products to help businesses address the evolving HR landscape and streamline the employee experience from recruitment to retirement.”
