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Randstad Holding profit misses consensus by 48.6% in Q1

Randstad Holding NV said its first-quarter normalized net income amounted to 28 euro cents per share, compared with the S&P Capital IQ consensus estimate of 55 cents per share.

EPS rose year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €50.9 million, a gain from €49.8 million in the prior-year period.

The normalized profit margin dropped to 1.1% from 1.3% in the year-earlier period.

Total revenue increased 11.6% on an annual basis to €4.43 billion from €3.97 billion, and total operating expenses rose 11.3% from the prior-year period to €4.33 billion from €3.89 billion.

Reported net income grew 8.2% year over year to €56.2 million, or 31 cents per share, from €51.9 million, or 29 cents per share.