Manpower Beats Estimates

Manpower's (MAN) second-quarter earnings rose by more than 80% as the company easily beat analysts' consensus estimates.

The Milwaukee, Wis.-based employment services company said net income rose to $53.1 million, or 56 cents a share, from $29.1 million, or 37 cents a share, in the same period last year. Revenue was up 20% to $3.6 billion.

Analysts had forecast earnings of 52 cents a share on revenue of $3.5 billion, according to Thomson First Call.

Manpower said stronger foreign currencies boosted latest-quarter results by 2 cents a share.

"Both long term and newly acquired customers are accelerating their use of flexible talent. This increased demand is not only fueling our core businesses, but is also fueling our unique offerings in financial services, organizational consulting and career transitions services," said Chairman and Chief Executive Jeffrey A. Joerres in a statement.

For the third quarter, the company expects to earn 63 cents to 67 cents a share, with foreign currency contributing 4 cents a share to earnings. The consensus analyst estimate is 67 cents a share.

Shares of Manpower were recently down 21 cents, or 0.5%, to $44.29.

More from Opinion

Trump Blinks on China Trade War That's Looking Harder to Win

Trump Blinks on China Trade War That's Looking Harder to Win

Monday Madness: GE, China, and Micron

Monday Madness: GE, China, and Micron

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

How Technology Will Unleash the Legal Marijuana Industry's Growth Potential

How Technology Will Unleash the Legal Marijuana Industry's Growth Potential

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense