• Paychex, Inc, the payroll services provider, reported stronger-than-expected revenue growth and earnings per share.  

    Revenue in the fiscal third quarter ending in February increased 8% to $1.38 billion and net income rose 9% to $467.4 million from $430.7 million and diluted earnings per share rose to $1.29 from $1.19 a year ago. 

    "We have no cash, restricted cash, or investments deposited with Silicon Valley Bank or Signature Bank and have met all client fund obligations related to employee payment services and remittances to applicable tax or regulatory agencies," the company said in its earnings release statement. 
    Mar 29, 2023

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