Human resources services and executive search firm Robert Half has reported its second-quarter financial results, with both revenue and earnings slightly surpassing market expectations, yet its share price fell by almost 7%.

For the fiscal quarter ending June 30, the company posted global revenue of $1.336 billion, a 2% decline year-on-year but exceeding the analyst consensus of $1.32 billion. Earnings per share for the quarter came in at $0.26, aligning with market forecasts, although this was down from $0.41 in the same period last year, representing a roughly 37% decrease.

In its core operations, the talent solutions division saw a 2% year-on-year decline in adjusted revenue, but it achieved its third consecutive quarter of sequential growth. Specifically, the permanent placement business recorded a 2.5% year-on-year increase in adjusted revenue. The consulting arm, Protiviti, generated global revenue of $471 million, a 5% drop on an adjusted basis, primarily driven by changes in the regulatory environment for U.S. financial services. Management noted that Protiviti incurred $7 million in severance costs during the quarter, but the associated restructuring measures are expected to save approximately $45 million annually.

Chief Executive Officer Keith Waddell stated that hiring demand continues to improve, and the market environment is becoming more favorable for the business. Looking ahead to the third fiscal quarter, the company forecasts revenue between $1.31 billion and $1.41 billion, with earnings per share ranging from $0.43 to $0.53.