ManpowerGroup Q2 Profit Declines; Revenues Down 4%

(RTTNews) - ManpowerGroup (MAN) reported second quarter net earnings of $65.2 million compared to $122.2 million, a year ago. Earnings per share was $1.29 compared to $2.29. Excluding certain costs, earnings per share was $1.58, a decrease of 31% in constant currency. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $1.62, for the quarter. Analysts' estimates typically exclude special items.

Revenues were $4.9 billion, a 4% decrease from the prior year period. Analysts on average had estimated $4.85 billion in revenue.

The company expects earnings per share in the third quarter will be between $1.32 and $1.42, which includes an estimated favorable currency impact of 8 cents.

ManpowerGroup has decided to wind down Proservia managed services business in Germany. The company expects this will improve the profitability of Northern Europe business going forward.

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