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Kelly Services stock tumbles as profit and revenue miss mark amid 'tight' labor conditions

·1 min read
Kelly Services stock tumbles as profit and revenue miss mark amid 'tight' labor conditions
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  • KELYB
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Shares of Kelly Services Inc. tumbled 9.5% in afternoon trading Wednesday, after the staffing services company reported third-quarter profit and revenue that rose less than forecast, and lowered its full-year outlook, amid a historically tight labor market. Net income more than doubled to $34.8 million, or 87 cents a share, from $16.7 million, or 42 cents a share, in the year-ago period. Excluding nonrecurring items, such as gain from an investment in Persol Holdings, adjusted earnings per share