HR company Robert Half says that clients held off in hiring new workers, Q2 sales drop
Shares of Robert Half Inc. (RHI) dropped nearly 13% in the extended session Tuesday after the HR company missed earnings and revenue estimates for its second quarter, saying that clients held off in hiring new employees. Robert Half earned $106 million, or $1 a share, in the quarter, compared with $176 million, or $1.60 a share, in the year-ago quarter. Revenue dropped to $1.64 billion, from $1.86 billion a year ago. Analysts polled by FactSet expected Robert Half to report earnings of $1.13 a share on sales of $1.69 billion. "Second-quarter results for talent solutions were impacted by elongated client hiring cycles resulting from ongoing global macro uncertainty," Chief Executive Keith Waddell said in a statement. The stock ended the regular trading day up 0.2%.
-Claudia Assis
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07-25-23 1733ET
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