ManpowerGroup (MAN) Tuesday said first-quarter net earnings fell to $65.7 million, or 83 cents per share from $70.1 million, or 86 cents per share, a year earlier. On average, 15 analysts polled by Thomson Reuters expected earnings of 79 cents per share for the quarter. Analysts' estimates typically exclude special items.
Revenues dropped 7 percent to $4.54 billion from $4.9 billion. Analysts expected revenues of $4.47 billion.
According to the company, the results were hurt by the stronger US dollar relative to several foreign currencies. On a constant currency basis, revenues increased 7 percent and earnings per share increased 16 percent.
The company expects second-quarter earnings per share to range between $1.21 and $1.29, which includes an estimated unfavorable currency impact of 29 cents. Analysts expect earnings of $1.27 per share.
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