Korn/Ferry gets boost from fees
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Executive recruiter Korn/Ferry International posted better-than-expected results for the second quarter, driven by a 25% rise in fee revenue.
The Los Angeles-based company said it earned $17.1 million, or 37 cents a share, on revenue of $206.8 million. Fee revenue increased 25.8% to $195.9 million from a year earlier.
Analysts were expecting earnings of 33 cents a share, before any special items, on revenue of $189.7 million, according to Reuters Estimates.
Korn/Ferry expects earnings of 34 to 39 cents a share for the third quarter. Fee revenue for the period is expected to be $190 million to $200 million.
Shares of the company rose $2 to $18.73.
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