MENLO PARK, Calif. – Robert Half International Inc. (NYSE: NYSE:) announced its financial results for the first quarter, which ended March 31, 2024. The company's earnings per share (EPS) for the quarter was $0.61, in line with analyst consensus.
However, revenues declined, coming in at $1.47 billion versus the expected $1.49 billion. These revenues represent a decrease from the $1.716 billion recorded in the same quarter of the previous year.
The company's stock responded to the news with a decline of 3.54%, indicating investor disappointment with earnings and loss of revenue. M. Keith Waddell, President and CEO of Robert Half, commented on the results, saying, “Client and candidate caution continues to impact hiring activity and new project starts on a global basis.” Despite these challenges, Waddell noted a stabilization trend and expressed encouragement that second-quarter earnings guidance forecasts higher sequential earnings for the first time in seven quarters.
Waddell also took the opportunity to recognize the company's employees for their contributions to the company's recent prestigious awards, including being named Fortune Most Admired Company for 27 consecutive years.
Robert Half, known as the world's first and largest talent solutions and business consulting firm, has felt the impact of global economic conditions on its operations. The company's net income of $64 million for the first quarter of 2024 represents a significant decline from the $122 million recorded in the first quarter of 2023.
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