TriNet Group Tops Q2 Earnings and Revenue Estimates
TriNet Group (NYSE: TNET) came out with quarterly earnings of $1.53 per share, beating the Zacks Consensus Estimate of $1.24 per share. This compares to earnings of $1.74 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 23.39%. A quarter ago, it was expected that this human resources services outsourcing company would post earnings of $2.44 per share when it actually produced earnings of $2.16, delivering a surprise of -11.48%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
TriNet, which belongs to the Zacks Outsourcing industry, posted revenues of $310 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.73%. This compares to year-ago revenues of $341 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
TriNet shares have lost …
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