Paychex (PAYX) Revenue — Quarter Ended Feb 28, 2023
Revenue increased in the reporting quarter. The growth rate was higher than both the immediately preceding quarter and the same quarter one year earlier.
Key takeaway
Quarter ended Feb 28, 2023 · FY2023 Q3
Revenue increased in the reporting quarter. The growth rate was higher than both the immediately preceding quarter and the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.3B
Revenue reported for this quarter.
Quarter-over-quarter
+15.2%
Change from the immediately preceding quarter.
Year-over-year
+6.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| May 31, 2022 | $1.1B | +11.3% |
| Aug 31, 2022 | $1.2B | +11.2% |
| Nov 30, 2022 | $1.2B | +6.8% |
| Feb 28, 2023 | $1.3B | +6.7% |
Revenue performance
The reported revenue rose compared with the prior quarter, and the pace of growth accelerated relative to the same period a year ago.
Quarterly comparison
Revenue was higher than the immediately preceding quarter and also exceeded the level from one year earlier. The sequential and year-over-year comparisons both showed improvement.
What to watch
The filing discusses liquidity and capital resources, including standby letters of credit and long-term debt commitments.