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TriNet: 4Q Earnings Snapshot

·1 min read

DUBLIN, Calif. (AP) _ TriNet Group Inc. (TNET) on Tuesday reported fourth-quarter net income of $22 million.

The Dublin, California-based company said it had net income of 32 cents per share. Earnings, adjusted for one-time gains and costs, came to 44 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The human resources services outsourcing company posted revenue of $1.06 billion in the period. Its adjusted revenue was $221 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $199.1 million.

For the year, the company reported profit of $272 million, or $3.99 per share. Revenue was reported as $1.06 billion.

For the current quarter ending in April, TriNet expects its per-share earnings to range from $1.16 to $1.39.

The company expects full-year earnings in the range of $3.35 to $3.90 per share.

TriNet shares have declined almost 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $79.25, an increase of 56% 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