Paycor HCM, Inc. PYCR Shares are trading higher after the company reported better-than-expected second-quarter adjusted EPS and sales results. In addition, the company released revenue guidance for the third quarter and full year 2023 that beat analyst estimates.

What you should know: On Wednesday, Paycor released its results for the quarter ended December 31, 2022.

• Paycor reported quarterly earnings of $0.08 per share, beating the consensus estimate of $0.06 per share.
• The company also reported revenue of $132.9 million, beating the consensus estimate of $127.29 million.

Paycor HCM also provided revenue guidance for the third quarter and full year.

The company expects:

• Third quarter revenue was between $155 million and $157 million, ahead of the median analyst estimate of $150.52 million.
• Full-year 2023 revenue guidance in the range of $539 million to $545 million, ahead of the median analyst estimate of $531.67 million.

CEO of Paycor, Raul Villar Jr., noted that “Paycor delivered excellent second quarter results highlighted by year-over-year revenue growth of 29%, reflecting continued demand and product innovation.”

Paycor HCM Inc is a software-as-a-service provider of human capital management solutions for small and medium-sized businesses. Its suite of solutions enables companies to streamline HCM and payroll workflows.

According to data from Benzinga Pro, Paycor HCM stock is up 7.68% to trade at $26.26 at the time of publication. It has a 52-week high of $26.72 and a 52-week low of $25.52.