ManpowerGroup Slips To Loss In Q2; Stock Up In Pre-market

(RTTNews) - ManpowerGroup Inc. (MAN) Thursday announced net loss for the second quarter compared to profit last year. However, shares are gaining in the pre-market.

The workforce solutions company's second quarter loss came in at $67.1 million compared with net income of $60.1 million last year.

Loss per share was $1.44 versus earnings per share of $1.24 last year.

Eight analysts, on average, had expected the company to report $0.68 per share. Analysts' estimates typically exclude special items.

Operating loss came in at $25.3million compared with operating profit of 101.1 million in the previous year.

Revenue decreased to $4.519 billion from $4.520 billion last year.

Looking ahead, the company expected earnings per share for the third quarter to range between $0.77 and $0.87, including an estimated favorable currency impact of $0.03 and an effective tax rate of 48.0%.

In the pre-market trading, ManpowerGroup is 4.94% higher at $45.25 on the New York Stock Exchange.