TriNet: 4Q Earnings Snapshot
DUBLIN, Calif. (AP) _ TriNet Group Inc. (TNET) on Thursday reported fourth-quarter earnings of $29 million.
The Dublin, California-based company said it had profit of 40 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were 59 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The human resources services outsourcing company posted revenue of $917 million in the period. Its adjusted revenue was $225 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $211.6 million.
For the year, the company reported profit of $192 million, or $2.65 per share. Revenue was reported as $893 million.
TriNet shares have increased 18 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $49.55, an increase of 20 percent in the last 12 months.