08:36 AM EDT, 10/25/2024 (MT Newswires) -- TriNet Group ( TNET ) reported Q3 adjusted net income Friday of $1.17 per diluted share, down from $1.91 a year earlier.

Analysts polled by Capital IQ expected $1.32.

Total revenue for the quarter ended Sept. 30 was $1.24 billion, up from $1.22 billion a year earlier.

No comparable Capital IQ estimate was available.

For Q4, the company said it expects adjusted net income in the range of $0.06 to $0.57 per diluted share. Analysts polled by Capital IQ expect $1.16. Revenue growth is anticipated to range from a 1% decline to 2% growth.

For full-year 2024, TriNet ( TNET ) said it now expects adjusted net income in the range of $4.95 to $5.45 per diluted share, down from its prior outlook of $5.25 to $6.80. Analysts surveyed by Capital IQ expect $6.05. Revenue is now expected to grow 1% to 2%, compared with the prior range of 1% decline to 4% growth.

Shares of the company fell more than 12% in recent Friday premarket activity.

Price: 80.00, Change: -11.63, Percent Change: -12.69