The Menlo Park-based talent solutions firm posted a profit of $49.9 million, or 49 cents per share, outperforming the 47-cent consensus estimate polled by FactSet. Revenue for the period rose slightly to $1.36 billion, mirroring the figures anticipated by market analysts.
In section Market Quotes
Robert Half Shares Jump 22% Following Quarterly Profit Beat
A 22% spike in share price greeted Robert Half on Friday, as investors reacted to a third-quarter earnings report that surpassed analyst expectations. The stock reached $46.07 by afternoon trading, extending its year-to-date gains to 70% following a period of renewed hiring activity in the labor market.
Growth was primarily driven by the company’s core segments: contract talent solutions reached $758.8 million, while permanent placement services climbed to $116.9 million. These gains helped offset a dip in the Protiviti consulting arm, which saw revenue slide to $483.5 million from $498.1 million a year ago. CEO M. Keith Waddell attributed the performance to a broader stabilization in market conditions, noting that demand for risk and compliance consulting services showed renewed momentum throughout the quarter.
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