Robert Half International Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of staffing and consulting company Robert Half International (NYS: RHI) heard the words "you're hired" today after reporting earnings.
So what: Revenue grew 20% in the third quarter to $984.7 million, passing estimates of $970 million. And earnings per share of $0.31 more than doubled earnings from a year ago and came in three cents ahead of analyst's estimates.
Now what: With the employment picture looking dismal it's a bit of a surprise to see a staffing company perform so well. But the advantage employers have in using Robert Half is that they don't have to add permanent headcount and can let workers go if demand slows down. If the employment picture does begin to improve, then conditions should get even better, so I think this is bullish news for Robert Half.
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At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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