By Roshan Fernandez
Shares of Robert Half dropped in late trading after the management consulting firm reported a decrease in profit and revenue, citing moderated business confidence stemming from heightened economic uncertainty over U.S. trade and policy developments.
The Menlo Park, Calif.-based company's shares fell 16% to $39.09. The stock is down about 34% year to date through Wednesday's close.
The company reported a profit of $17 million, or 17 cents a share, for the three months ended March 31, compared with $64 million, or 61 cents a share, in the same quarter a year ago. Analysts polled by FactSet expected 36 cents a share.
Revenue decreased to $1.35 billion, below analysts' estimate of $1.41 billion. The company reported sales of $1.48 billion in the year-ago quarter.
"Client and job seeker caution continues to elongate decision cycles and subdue hiring activity and new project starts," Chief Executive M. Keith Waddell said.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
(END) Dow Jones Newswires
April 23, 2025 17:53 ET (21:53 GMT)
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