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Sep 30, 2020
TriNet Q3 2020 Earnings Report
TriNet's Q3 2020 financial performance reflected a resilient customer base and exceeded expectations, with total revenues increasing by 1% and a focus on supporting customers during challenging times.
Key Takeaways
TriNet Group, Inc. announced its Q3 2020 financial results, with total revenues increasing by 1% to $975 million, but Net Service Revenues decreasing by 2% to $216 million. Net income was $33 million, a decrease from the previous year's $55 million. The company highlighted its commitment to SMBs and its focus on long-term growth and customer support.
Total revenues increased 1% to $975 million, while Net Service Revenues decreased 2% to $216 million compared to the same period last year.
Net income decreased to $33 million, or $0.48 per diluted share, compared to $55 million, or $0.78 per diluted share, in the same period last year.
Adjusted Net Income was $39 million, or $0.56 per diluted share, compared to $58 million, or $0.81 per diluted share, in the same period last year.
Average Worksite Employees (WSEs) decreased 4% to approximately 318,000, and Total WSEs decreased 3% to approximately 321,000.
Revenue by Segment
Forward Guidance
TriNet will host a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its quarterly and annual results for 2020 and provide quarterly and annual financial guidance for 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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