Paychex Inc. (NASD: PAYX), a provider of payroll services and PEO services, reported revenue rose 7% to $722.4 million in its fiscal second quarter ended Nov. 30.

PEO revenue is included in Paychex’s human resource services segment, which reported an 11% increase to $283.9 million in the second quarter.

Net income at the firm rose 9% to $189.2 million.

“The second quarter reflected continued growth across our major product lines,” said President and CEO Martin Mucci. “Payroll service revenue advanced 4% and we continue to experience solid sales execution. The double-digit growth in client worksite employees served within our human resource services is an indication of the continued strong demand for these services.”

Earlier this month Paychex had announced the acquisition of Advance Partners, a large payroll funding and outsourcing services provider to the US temporary staffing industry.

“Advance Partners offers customizable solutions to the temporary staffing industry, including payroll funding and outsourcing services,” Mucci said in comments today. “We believe this acquisition will be an ideal fit for Paychex, as the staffing outsourcing business is a growing business that serves many small- and mid-sized firms.”

Paychex shares fell 0.97% to $52.09 in early afternoon trading and the company had a market cap of $18.78 billion, according to Yahoo!