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View All NewsTriNet revenue rises in Q3; net income jumps
Third-quarter revenue rose 6.3% at TriNet Group Inc. (NYSE: TNET); however, net income jumped. The average number of worksite employees fell 2.3% to 324,043.
| (US$ thousands) | Q3 2017 | Q3 2016 | % change |
| Professional service revenue | $112,530 | $110,493 | 1.8% |
| Insurance service revenue | $706,763 | $659,964 | 7.1% |
| Total revenue | $819,293 | $770,457 | 6.3% |
| Net income | $42,836 | $14,581 | 193.8% |
Quote
“We delivered strong financial results during the third quarter as we continued to execute our strategic operational plan,” President and CEO Burton Goldfield said. “By pairing our technology platform with our deep industry-specific knowledge, we are developing tailored vertical products that provide our clients with an exceptional HR experience. We remain focused on leveraging our scale for the benefit of our clients, while maximizing our ability to deliver profitable growth for our shareholders.”
Share price and market cap
Shares in TriNet rose 14.92% to $40.98 as of 1:12 p.m. Eastern time. The company had a market cap of $2.83 million.