NEW YORK (AP) -- Online job search company Monster Worldwide Inc. said Thursday its net income slipped in the second quarter as its revenue decreased.
Monster Worldwide cut its spending compared to a year ago and said it has finished a restructuring effort. However, its revenue sank 11 percent and fell short of Wall Street expectations.
Shares of Monster Worldwide lost 22 cents, or 3.9 percent, to close at $5.50 on Thursday.
The company said its net income declined to $3.4 million, or 3 cents per share, from $4.8 million, or 4 cents per share. Excluding one-time costs Monster Worldwide said its net income fell to 9 cents per share from 10 cents per share. Revenue slumped to $200.1 million from $224.6 million.
Analysts expected adjusted net income of 9 cents per share and $207.5 million in revenue, according to FactSet.
Monster Worldwide is forecasting net income of 6 to 10 cents per share in the third quarter. Analysts expect 9 cents per share on average.
- Investment & Company Information
- Monster Worldwide