NEW YORK (AP) — Shares of Paychex Inc. fell before Tuesday's opening bell after disappointing revenue from the payroll and employee services provider, highlighting several analysts' concerns about the company's ability to grow amid high U.S. unemployment.

For the fiscal first quarter ended on Aug. 31, revenue rose 3 percent to $578.2 million. Analysts polled by FactSet, on average, were expecting $584.3 million. Net income, which also grew 3 percent, edged past Wall Street's expectations.

The Rochester, N.Y., company also backed its profit guidance for the year, which was in line with analyst predictions.

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