Daily News
View All NewsPEO TriNet reports revenue up 7%
October 30, 2018
Third-quarter revenue rose 7% at professional employer organization TriNet Group Inc. (NYSE: TNET). Net income rose 19% year over year at the Dublin, Calif.-based firm, but the average number of worksite employees fell 2% to approximately 318,000.
| (US$ millions) | Q3 2018 | Q3 2017 | % change |
| Professional service revenue | $119 | $112 | 6% |
| Insurance service revenue | $756 | $706 | 7% |
| Total revenue | $875 | $818 | 7% |
| Net income | $51 | $43 | 19% |
Quote
“We delivered strong financial results during the third quarter, as we executed on our vertical market strategy,” President and CEO Burton Goldfield said.
Share price and market cap
TriNet shares were up 1.55% to $47.14 at 10:34 a.m. Pacific time; the company had a market cap of $3.27 billion, according to FT.com.