TriNet: 2Q Earnings Snapshot
DUBLIN, Calif. (AP) _ TriNet Group Inc. (TNET) on Monday reported second-quarter profit of $58 million.
The Dublin, California-based company said it had profit of 80 cents per share. Earnings, adjusted for one-time gains and costs, came to 87 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The human resources services outsourcing company posted revenue of $850 million in the period. Its adjusted revenue was $220 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $208.5 million.
TriNet shares have climbed 28 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $56.69, a climb of 68 percent in the last 12 months.