jumped 7% after the online job-listings site reported stronger-than-expected first quarter results and issued bullish guidance.
Net income was $42.3 million, or 32 cents per share, more than double from $20.6 million, or 17 cents, a year earlier, the New York-based company said. Revenue increased 29% to $291.7 million. Profit from continuing operations was 29 cents, beating the average 27-cent profit forecast of analysts surveyed by Thomson Financial. Sales also beat analysts' expectations of $282.5 million.
"Our exceptional operating performance and strong financial results were fueled by our aggressive investments in the Monster franchise on a global basis," said Andrew J. McKelvey, the company's chief executive, in a statement. "It is clear that our ongoing investments in the Monster brand, expansion of our sales force, and improvements to our products and services have positioned us to benefit as demand for online-recruitment services grows and labor-market conditions improve."
Monster Worldwide expects sales of $293 million to $300 million in the second quarter on earnings of 29 cents to 30 cents. That's ahead of analysts' estimates for profit of 29 cents and sales of $291.7 million.
Earnings for the year will be $1.25 to $1.29 on sales of $1.18 billion to $1.22 billion, the company says. Wall Street analysts expected earnings of $1.25 and sales of $1.2 million, Thomson Financial says.
Shares of Monster, which have risen 28% this year, rose $3.71 to $55.95 in early-morning trading.