Paychex (PAYX) Revenue — Quarter Ended May 31, 2023
Revenue for the quarter declined compared to the immediately preceding quarter. However, revenue increased relative to the same quarter one year earlier.
Key takeaway
Quarter ended May 31, 2023 · FY2023 Q4
Revenue for the quarter declined compared to the immediately preceding quarter. However, revenue increased relative to the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.2B
Revenue reported for this quarter.
Quarter-over-quarter
-10.5%
Change from the immediately preceding quarter.
Year-over-year
+6.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.9B
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 |
|---|---|---|
| Aug 31, 2022 | $1.2B | +11.2% |
| Nov 30, 2022 | $1.2B | +6.8% |
| Feb 28, 2023 | $1.3B | +6.7% |
| May 31, 2023 | $1.2B | +6.6% |
Revenue performance
The reported revenue moved downward from the prior quarter, reversing the sequential growth seen in earlier periods of the fiscal year.
Quarterly comparison
Compared with the immediately preceding quarter, revenue was lower. Compared with the same quarter one year ago, revenue was higher.
What to watch
The sequential decline in revenue may warrant attention given the prior quarters showed consistent growth.