Monster posts profit
Monster Worldwide has managed to beat analysts forecasts, posting a quarterly net profit of $33.3 million yesterday.
The company last year reported a third quarter loss of $83.8 million, after it came off badly in a unit sale.
Revenues increased by 25 per cent year-on-year, rising from $286 million to $337 million. Adjusted earnings stood at $0.35 per share, beating forecasts by $0.02 per share. Operating margins increased two per cent from the previous quarter, rising to 21 per cent.
"We believe our third quarter results demonstrated the strength of the Monster brand in a difficult domestic market environment," the company’s Monster’s chief executive, Sal Iannuzzi, commented.
"Our ongoing strategy to expand our franchise on a global basis contributed to the significant revenue growth and strong margin expansion we experienced in our International segment. Our ability to provide quality job candidates to our employer customers on a global basis provides a competitive advantage in the marketplace and enhances Monster’s position as the global online recruitment leader."
