Paychex reported a 7% decrease in total revenue for the fourth quarter to $915.1 million, with net income decreasing by 4% to $220.7 million and diluted earnings per share decreasing by 5% to $0.61. The results were impacted by the COVID-19 pandemic, which caused business shutdowns and affected sales and financial performance.
Total revenue decreased 7% to $915.1 million.
Net income decreased 4% to $220.7 million.
Diluted earnings per share decreased 5% to $0.61 per share.
COVID-19 pandemic adversely impacted results due to business suspensions.
Paychex anticipates impacts resulting from the COVID-19 pandemic based on current assumptions and market conditions for the fiscal year ending May 31, 2021.
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