Paychex (PAYX) Revenue — Quarter Ended Aug 31, 2023
Revenue for the quarter increased compared with the prior quarter and also rose relative to the same quarter a year earlier. The sequential and year-over-year gains reflect continued growth in the company's top line.
Key takeaway
Quarter ended Aug 31, 2023 · FY2024 Q1
Revenue for the quarter increased compared with the prior quarter and also rose relative to the same quarter a year earlier. The sequential and year-over-year gains reflect continued growth in the company's top line.
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
+4.0%
Change from the immediately preceding quarter.
Year-over-year
+5.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$5B
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 |
|---|---|---|
| Nov 30, 2022 | $1.2B | +6.8% |
| Feb 28, 2023 | $1.3B | +6.7% |
| May 31, 2023 | $1.2B | +6.6% |
| Aug 31, 2023 | $1.3B | +5.5% |
Revenue performance
Reported revenue moved higher, marking a positive direction for the quarter. The increase was supported by the company's ongoing business activities.
Quarterly comparison
Compared with the immediately preceding quarter, revenue improved. Versus the same quarter one year earlier, revenue also showed an increase.
What to watch
The filing context discusses risk factors related to liquidity and capital resources, which may warrant attention in future periods.