ManpowerGroup (NYSE: MAN) saw its stock price plummet 5.13% in intraday trading, despite reporting better-than-expected third-quarter results. The workforce solutions company's shares fell sharply as investors reacted to a significant year-over-year decline in earnings and a disappointing outlook for the fourth quarter.

For the third quarter, ManpowerGroup reported adjusted earnings per share of $0.83, surpassing the analyst consensus estimate of $0.81. However, this represents a substantial 35.66% decrease from the $1.29 per share reported in the same period last year. Revenue for the quarter came in at $4.634 billion, slightly above the estimated $4.600 billion and marking a 2.30% increase from the previous year.

Despite the top-line and bottom-line beats, investors seemed focused on the company's weakening profitability and cautious forward guidance. ManpowerGroup's net income for the quarter stood at just $18 million, raising concerns about the company's ability to maintain margins in a challenging economic environment. Adding to the pessimism, 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 suggests continued pressure on the company's earnings in the near term. The negative sentiment was further compounded by the stock's year-to-date performance, with shares having lost 34.1% of their value prior to today's plunge, indicating ongoing investor concerns about the company's growth prospects and market position.