Paychex (PAYX) Revenue — Quarter Ended Feb 29, 2024
Revenue for the quarter ended February 29, 2024 increased compared to the same quarter last year. The growth rate was higher than the immediately preceding quarter.
Key takeaway
Quarter ended Feb 29, 2024 · FY2024 Q3
Revenue for the quarter ended February 29, 2024 increased compared to the same quarter last year. The growth rate was higher than the immediately preceding quarter.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.4B
Revenue reported for this quarter.
Quarter-over-quarter
+13.8%
Change from the immediately preceding quarter.
Year-over-year
+3.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$5.1B
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, 2023 | $1.2B | +6.6% |
| Aug 31, 2023 | $1.3B | +5.5% |
| Nov 30, 2023 | $1.2B | +4.9% |
| Feb 29, 2024 | $1.4B | +3.7% |
Revenue performance
Reported revenue rose from the prior quarter, continuing an upward trend. The year-over-year growth rate accelerated compared to the previous quarter's pace.
Quarterly comparison
Revenue was higher than both the immediately preceding quarter and the same quarter one year earlier. The sequential increase was larger than the year-ago increase.
What to watch
The filing notes potential adjustments to capital and operating spending if liquidity needs arise, though no short-term financing was drawn.