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View All NewsTriNet Q1 revenue up 17%
Professional employer organization TriNet Group Inc., reported first-quarter total revenue rose 17.2% year over year to $732.9 million.
| (US$ thousands) | Q1 2016 | Q1 2015 | % change |
| Professional service revenue | $112,403 | $97,016 | 15.9% |
| Insurance service revenue | $620,536 | $528,562 | 17.4% |
| Total revenue | $732,939 | $625,578 | 17.2% |
| Net income | $11,577 | $15,811 | -26.8% |
The total number of worksite employees increased 12.2% year over year to approximately 324,100 at the end of March.
Also, it was announced last month that TriNet Group reached an agreement with the US Department of Labor to pay $1 million in back overtime wages and damages combined to 267 employees of its subsidiary TriNet Human Resources Inc.
Quote
“We are on track during 2016 to introduce additional products, tailored to industry specific needs, and enhancements to our technology platform,” President and CEO Burton Goldfield said. “These initiatives will build upon our strong start to the year.”
Share price and market cap
Shares in TriNet rose 7.64% to $17.87 in early afternoon trading today and TriNet has a market cap of approximately $1.26 billion, according to Yahoo!