OKLAHOMA CITY (AP) _ Paycom Software Inc. (PAYC) on Tuesday reported second-quarter profit of $48.8 million.
The Oklahoma City-based company said it had profit of 83 cents per share. Earnings, adjusted for one-time gains and costs, came to 75 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The maker of human-resources and payroll software posted revenue of $169.3 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $164 million.
For the current quarter ending in October, Paycom said it expects revenue in the range of $170 million to $172 million.
The company expects full-year revenue in the range of $728 million to $730 million.
Paycom shares have risen 86% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $228.28, more than doubling in the last 12 months.