- Paycom Software Inc (NYSE:PAYC) stock is trading higher after hours on first-quarter earnings, which beat estimates and issued better than expected outlook.
- Paycom reported adjusted earnings of $2.46 per share, beating analyst estimates of $2.35 per share. Revenue for the quarter was $451.64 million, beating the forecast of $444.19 million.
- Adjusted EBITDA for Q1 was $220.5 million, up from $170.1 million in the prior year quarter.
- The company’s operating margin for the quarter was 35.5%, down from 35.7% year-over-year. Q1 operating cash flow was $146.1 million.
- It ended Q1 with cash and equivalents of $505.6 million.
- Outlook: Paycom expects revenue for the second quarter to be in the range of $397 million to $399 million, compared to the consensus of $393.11 million.
- For FY23, it expects revenue to be $1.713 billion to $1.715 billion, beating estimates of $1.7 billion.
- Price Action: PAYC shares are up 1.44% at $293 in the after-hours session on the last check Tuesday.
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