- Paycom Software ( NYSE: PAYC ) stock is drifting up 1.2% in Tuesday afterhours trading after the company lifted its full-year revenue and EBITDA outlooks following a stronger than expected second quarter .
- It sees 2022 revenue of $1.354B-1.356B vs. $1.3B-1.34B in the previous target.
- Adjusted EBITDA is expected to be $546M-548M in 2022, compared with $533M-535M in the prior view.
- Turning to Q2 results, adjusted EPS of $1.26 topped the average analyst estimate of $1.12 and climbed from $0.98 in the year-ago period.
- Revenue of $316.9M also beat the consensus of $308.6M and rose from $242.1M in Q2 2021.
- Operating expenses totaled $244.6M at June 30 vs. $195.1M at June 30 a year ago.
- Q2 adjusted EBITDA came in at $199.6M compared with $87M in the year-ago quarter.
- Q2 adjusted EBITDA margin increased to 37.7% in Q2 from 35.9% in Q2 2021.
- Towards the end of July, Paycom shares fell after a new short report from Kerrisdale Capital .
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Paycom raises year revenue, EBITDA guidance after strong Q2 beat