Company Earnings Announcement Latest News: Manpower Expects Cost Cuts to Help Second-quarter Profit

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Company Earnings Announcement Latest News: Manpower Expects Cost Cuts to Help Second-quarter Profit

Company Earnings Announcement Latest News: Manpower Expects Cost Cuts to Help Second-quarter Profit
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Company Earnings Announcement Latest News: Manpower Expects Cost Cuts to Help Second-quarter Profit

Wochit 0:49 mins

ManpowerGroup Incorporated, the world's No.3 staffing company, reported a strong adjusted quarterly profit as cost cuts propped up margins even though European sales declined sharply. The company said margins could slightly expand in the second quarter, and shares rose as much as 10 percent to $57.54 in morning trading, their highest in the last 21 months. Grocery store chain Safeway Inc. says its profit fell in the second quarter, partly on a tax charge related to a deal to sell its Canadian operations. Yahoo Inc's second-quarter net revenue was down slightly as the Internet company posted adjusted profit that was ahead of Wall Street targets. Shares of Yahoo, which have gained about 70 percent since Chief Executive Marissa Mayer took the helm a year ago, were down 2 percent.

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