TRINET GROUP INC (TNET) revealed a profit for third quarter that decreased from last year and missed the Street estimates.
The company's bottom line came in at $45 million, or $0.89 per share. This compares with $94 million, or $1.63 per share, in last year's third quarter.
Excluding items, TRINET GROUP INC reported adjusted earnings of $59 million or $1.17 per share for the period.
Analysts on average had expected the company to earn $1.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 1.2% to $1.237 billion from $1.222 billion last year.
TRINET GROUP INC earnings at a glance (GAAP) :
-Earnings (Q3): $45 Mln. vs. $94 Mln. last year.
-EPS (Q3): $0.89 vs. $1.63 last year.
-Revenue (Q3): $1.237 Bln vs. $1.222 Bln last year.
-Guidance:
Next quarter EPS guidance: $0.06 to $0.57
Next quarter revenue guidance: Growth of -1% to 2%
Full year EPS guidance: $4.95 to $5.45
Full year revenue guidance: Growth of 1% to 2%
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