ManpowerGroup (NYSE: MAN) shares plummeted 5.13% in Thursday's trading session, despite the company reporting better-than-expected third-quarter results. The significant drop in stock price can be attributed to a substantial year-over-year decline in earnings and a disappointing fourth-quarter outlook.

The staffing services provider reported adjusted earnings of $0.83 per share for Q3, surpassing the analyst consensus estimate of $0.81. However, this represents a 35.66% decrease from $1.29 per share in the same period last year. Revenue for the quarter came in at $4.634 billion, slightly above the expected $4.600 billion and up 2.30% from the previous year.

While ManpowerGroup managed to beat estimates, investors seemed more concerned with the company's future prospects. The company provided fourth-quarter earnings guidance of $0.78 to $0.88 per share, which falls below the current analyst expectations of $0.83 per share. This outlook, combined with the significant year-over-year earnings decline, appears to have sparked investor concerns about the company's growth trajectory in a challenging economic environment.