MENLO PARK, Calif. – Robert Half International Inc. (NYSE: NYSE:) reported financial results for the first quarter ended March 31, 2024. The company’s earnings per share (EPS) for the quarter were $0.61, in line with analyst consensus estimates.
However, revenue fell short at $1.47 billion versus expectations of $1.49 billion. This revenue represents a decline from the $1.716 billion reported in the same quarter the previous year.
The company’s shares reacted to the news with a decline of 3.54%, indicating investor disappointment over earnings and falling revenues. M. Keith Waddell, President and CEO of Robert Half, commented on the results, saying, “Customer and candidate caution continues to impact the recruiting process, with new projects starting on a global scale.” Despite these challenges, Waddell noted the trend was stabilizing and said he was pleased that second-quarter earnings guidance calls for 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 firm’s recent prestigious awards, including being named Fortune magazine’s Most Admired Company for 27 consecutive years.
Robert Half, known as the world’s first and largest specialist talent acquisition 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 was a significant decline from the $122 million reported in the first quarter of 2023.
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