Monster Quarter

Shares of Monster Worldwide ( MNST) soared after the online jobs service posted better-than-expected second-quarter results.

Net income was $39.6 million, or 31 cents, the New York-based company says. Monster Worldwide didn't provide a year-over-year comparison because an investigation into options backdating may lead to a restatement. Revenue jumped 36% to $296 million. Analysts had expected earnings of 30 cents on sales of $294.9 million, according to Thomson Financial.

"We are very pleased to report outstanding second-quarter financial results and an improved outlook for the full year. Monster's significant revenue growth, strong earnings and healthy cash flow clearly reflect the successful execution of Monster Worldwide's key strategic priorities,'' says Andrew J. McKelvey, chairman and chief executive officer. "All of our business units made solid contributions to the quarter's strength.''

For the current quarter, Monster sees revenue of $300 million to $306 million, with earnings of 32 cents to 33 cents. Yearly profit is expected to be $1.26 to $1.30 with revenue at $1.175 billion to $1.2 billion.

Analysts had forecast quarterly profit of 33 cents and $1.28 for the year, according to Thomson Financial. Sales were seen at $302.2 million in the quarter and $1.2 billion for the year.

Shares rose $2.17 to $40.51.

More from Technology

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Some Companies Are Already Feeling the Effect of GDPR

Some Companies Are Already Feeling the Effect of GDPR

Experts Break Down GDPR Risks for Investors

Experts Break Down GDPR Risks for Investors

Netflix Ready to Surpass Disney as America's Most Valuable Media Company

Netflix Ready to Surpass Disney as America's Most Valuable Media Company