Daily News
View All NewsPEO TriNet’s revenue rises 7% in first quarter
May 01, 2018
First-quarter revenue rose 7% at professional employer organization TriNet Group Inc. (NYSE: TNET). Net income jumped, however, the San Leandro, Calif.-based firm reported, and the average number of worksite employees fell 4% year over year to approximately 315,000.
| (US$ millions) | Q1 2018 | Q1 2017 | % change |
| Professional service revenue | $129 | $120 | 8% |
| Insurance service revenue | $732 | $688 | 6% |
| Total revenue | $861 | $808 | 7% |
| Net income | $54 | $29 | 88.0% |
Quote
“We remain on track to return to sequential volume growth in the second half of the year, and we are well positioned for the next phase of our growth,” President and CEO Burton Goldfield said.
Share price and market cap
Shares in TriNet rose 1.7% to $52.53 as of 12:49 p.m. Eastern time. The company had a market cap of approximately $3.70 billion.