TRINET GROUP INC
For the period ended Mar 31, 2024. Filed Apr 26, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 26, 2024
TNET$66.30+2.6%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Income and Comprehensive Income
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| (in millions except per share data) | 2024 | 2023 |
| Professional service revenues | $214 | $205 |
| Insurance service revenues | 1,050 | 1,041 |
| Total revenues | 1,264 | 1,246 |
| Insurance costs | 907 | 852 |
| Cost of providing services | 79 | 78 |
| Sales and marketing | 72 | 69 |
| General and administrative | 48 | 43 |
| Systems development and programming | 18 | 17 |
| Depreciation and amortization of intangible assets | 18 | 18 |
| Total costs and operating expenses | 1,142 | 1,077 |
| Operating income | 122 | 169 |
| Other income (expense): | ||
| Interest expense, bank fees and other | (16) | (7) |
| Interest income | 18 | 18 |
| Income before provision for income taxes | 124 | 180 |
| Income taxes | 33 | 49 |
| Net income | $91 | $131 |
| Other comprehensive income (loss), net of income taxes | (3) | 3 |
| Comprehensive income | $88 | $134 |
| Net income per share: | ||
| Basic | $1.80 | $2.18 |
| Diluted | $1.78 | $2.17 |
| Weighted average shares: | ||
| Basic | 51 | 60 |
| Diluted | 51 | 60 |
| TRINET | 27 | 2024 Q1 FORM 10-Q |
|---|
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