TriNet Q2 Results Miss Estimates

(RTTNews) - Human resources solutions provider TriNet Group, Inc. (TNET)reported a net loss for the second quarter of $1.3 million or $0.02 per share, compared to net income of $6.2 million or $0.09 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $10.5 million or $0.14 per share, compared to $17.4 million or $0.24 per share in the prior year quarter.

Total revenues for the second quarter rose 22% to $640.01 million from $525.01 million a year ago. Net services revenue for the quarter fell 2% to $122.01 million from $124.81 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.27 per share on revenue of $137.55 million for the second quarter. Analysts' estimates typically exclude special items.