05:14 PM EDT, 05/01/2024 (MT Newswires) -- Paycom Software ( PAYC ) reported Q1 non-GAAP net income Wednesday of $2.59 per diluted share, up from $2.46 a year earlier.

Analysts polled by Capital IQ expected $2.47.

Revenue for the quarter ended March 31 rose to $499.9 million from $451.6 million a year earlier.

Analysts polled by Capital IQ expected $496.2 million.

For Q2, the company expects total revenue of $434 million to $438 million. It also reaffirmed 2024 revenue guidance of $1.86 billion to $1.89 billion.

Analysts polled by Capital IQ expect $442.1 million and $1.87 billion, respectively.

Paycom shares fell 11% in recent after-hours activity.

Price: 165.66, Change: -20.58, Percent Change: -11.05