Payroll giant Paychex Inc. announced that it grew its total revenue 7 percent in the second quarter of its fiscal 2016, to $722.4 million.

In the three months ended Nov. 30, 2015, the company’s net income increased 9 percent, to $189.2 million, and its earnings per share grew 11 percent, to $0.52 per share.

Its core payroll business grew 4 percent in the period, to $427.4 million, while its human resource services revenue increased 11 percent, to $283.9 million.

“The second quarter reflected continued growth across our major product lines,” president and CEO Martin Mucci said in a statement. “Payroll service revenue advanced 4 percent and we continue to experience solid sales execution. The double-digit growth in client worksite employees served within our human resource services is an indication of the continued strong demand for these services.”

On December 2, the company announced the planned acquisition of Advance Partners, a provider of integrated financial, operational and strategic services to support independent staffing firms.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access