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TriNet: 3Q Earnings Snapshot

·1 min read

DUBLIN, Calif. (AP) _ TriNet Group Inc. (TNET) on Monday reported third-quarter net income of $33 million.

On a per-share basis, the Dublin, California-based company said it had net income of 48 cents. Earnings, adjusted for one-time gains and costs, were 56 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The human resources services outsourcing company posted revenue of $975 million in the period. Its adjusted revenue was $216 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $179.6 million.

TriNet shares have risen 25% since the beginning of the year. In the final minutes of trading on Monday, shares hit $70.50, an increase of 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TNET at https://www.zacks.com/ap/TNET