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View All NewsTriNet revenue up 12%
Fourth-quarter revenue rose 11.8% at TriNet Group Inc. (NYSE: TNET). The professional employer organization also reported the number of worksite employees rose 4.2% year over year in 2016 to approximately 338,000. However, TriNet said in a conference call with investors that the company expects to see worksite employee volume growth lag overall revenue growth in 2017 as it continues to align products and price as well as complete a platform migration.
| (US$ thousands) | Q4 2016 | Q4 2015 | % change |
| Professional service revenue | $114,266 | $106,999 | 6.8% |
| Insurance service revenue | $696,805 | $618,696 | 12.6% |
| Total revenue | $811,071 | $725,695 | 11.8% |
| Net income | $22,966 | $14,095 | 62.9% |
Quote
“HR challenges for small, midsized businesses have never been more complex,” President and CEO Burton Goldfield said in a conference call with analysts. “The new administration is signaling significant changes to business regulations including a very public discussion around the future of the Affordable Care Act. Additionally, state regulatory frameworks continue to diverge from each other and from the Federal Government. TriNet is well positioned to address these challenges. In 2016 alone, we identified over 3,000 new local, state and federal regulations impacting employment.”
Full-year results
| (US$ thousands) | 2016 | 2015 | % change |
| Professional service revenue | $446,755 | $401,287 | 11.3% |
| Insurance service revenue | $2,613,558 | $2,258,001 | 15.7% |
| Total revenue | $3,060,313 | $2,659,288 | 15.1% |
| Net income | $61,406 | $31,695 | 93.7% |
Share price and market cap
Shares in TriNet rose 8.31% in early afternoon trading today to $29.08. The company had a market cap of $2.0 billion, according to Yahoo.