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TriNet shares soar following earnings report

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TriNet shares soar following earnings report

Shares of human resources solutions provider TriNet Group Inc. surged more than 15% the day after the company reported second-quarter earnings results.

The company reported second-quarter GAAP net income of $40.0 million, or 56 cents per share, compared with $12.3 million, or 17 cents per share, in the year-ago quarter. Adjusted net income was $36.7 million, or 52 cents per share, up from $19.5 million, or 27 cents per share, in the prior-year period.

TriNet shares initially rose Aug. 1 by about 13%, then steadily traded higher throughout the day. As of 2:21 p.m. ET, TriNet shares traded at $40.46, up 15.6%.