Yahoo Finance TriNet Group First Quarter 2024 Earnings: Misses Expectations
TriNet Group (NYSE:TNET) First Quarter 2024 Results
Key Financial Results
Revenue: US$1.26b (up 1.4% from 1Q 2023).
Net income: US$91.0m (down 31% from 1Q 2023).
Profit margin: 7.2% (down from 11% in 1Q 2023). The decrease in margin was driven by higher expenses.
EPS: US$1.78 (down from US$2.18 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
TriNet Group Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 5.8%. Earnings per share (EPS) also missed analyst estimates by 16%.
Looking ahead, revenue is expected to decline by 60% p.a. on average during the next 3 years, while revenues in the Professional Services industry in the US are expected to grow by 5.6%.
Performance of the American Professional Services industry.
The company's shares are down 18% from a week ago.
Valuation
TriNet Group's financial results now indicate the company's shares could present an opportunity based on 6 important indicators. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.
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