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.
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