FX.co ★ Robert Half International Q1 income drops in line with estimates

Robert Half International (RHI) recently revealed its first-quarter earnings report which depicts a decline compared to the same period of the previous year. However, this drop was in accordance with Wall Street's predictions.

RHI's earnings for the quarter amounted to $64 million, showing a decrease from the $122 million earned in the first quarter of the preceding year. The earnings per share (EPS) now stand at $0.61 as opposed to the $1.14 of the previous fiscal year's equivalent quarter.

These numbers exactly matched the average predictions made by analysts sourced by Thomson Reuters, who had anticipated an EPS of $0.61. These predictions typically exclude any extraordinary or non-recurring items.

RHI also reported a drop in revenue for the first quarter, totalling $1.5 billion which is an 11.8% decrease compared to the $1.7 billion of revenue reported in the first quarter of the previous year.

To summarize, the first-quarter earnings for Robert Half International (under GAAP) are as follows:

- Earnings went from $122 million last year to $64 million this Q1.

- EPS has decreased from $1.14 last year to $0.61 this Q1.

- Revenue has dropped from $1.7 billion last year to $1.5 billion in this Q1.