TriNet Group (TNET) Misses Q2 EPS by 13c

TriNet Group (NYSE: TNET) reported Q2 EPS of $0.14, $0.13 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $122 million versus the consensus estimate of $137.55 million.

"We delivered double digit growth in our WSE base and professional service revenues during the second quarter, as our bundled HR product offering continues to resonate with a wide range of companies across our target verticals," said Burton M. Goldfield, TriNet's President and CEO. "We also continued to grow our salesforce, ending the quarter with 486 quota carrying sales representatives, putting us ahead of our June 30th goal of 470, well on track to reach our annual goal. These highly skilled professionals are focused on introducing our differentiated product solutions to potential clients in our target verticals, further penetrating fast growing sectors across the nation."

Mr. Goldfield added, "While our growth momentum remains robust, our results were impacted this quarter by a higher than expected number of large medical claims. We were disappointed that these claims were well in excess of our expected claims volatility. We continue to analyze this part of our business and consider options for addressing variability in medical and the predictability of its contribution to Net Service Revenues and profitability."

For earnings history and earnings-related data on TriNet Group (TNET) click here.

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