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Randstad Holding profit misses consensus by 23.8% in Q2

Randstad Holding NV said its second-quarter normalized net income amounted to 60 euro cents per share, compared with the S&P Capital IQ consensus estimate of 78 cents per share.

EPS rose 29.6% year over year from 46 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €109.3 million, a gain of 31.2% from €83.3 million in the year-earlier period.

The normalized profit margin climbed to 2.3% from 2.0% in the year-earlier period.

Total revenue increased 12.8% year over year to €4.82 billion from €4.27 billion, and total operating expenses increased 12.3% year over year to €4.64 billion from €4.13 billion.

Reported net income rose 39.8% on an annual basis to €126.5 million, or 69 cents per share, from €90.5 million, or 50 cents per share.