Korn Ferry Q1 Earnings Beat Estimates On Strength In Diversification Strategy
Portfolio Pulse from Nabaparna Bhattacharya
Korn Ferry (NYSE:KFY) reported Q1 FY23 total revenue growth of 0.5% YoY to $706.26 million, beating the consensus of $684.93 million. Adjusted EPS of $0.99 also beat the estimate of $0.91. However, operating income nearly halved to $56.8 million. The company's diversification strategy was credited for the positive results. KFY expects Q2 FY24 adjusted EPS of $0.91 - $1.01, versus consensus of $0.96. KFY shares are trading lower by 1.07% to $49.33.
September 07, 2023 | 4:01 pm
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Korn Ferry's Q1 FY23 results beat estimates, but operating income nearly halved. The company's diversification strategy was credited for the positive results. Shares are trading lower.
Despite beating revenue and EPS estimates, Korn Ferry's operating income nearly halved, which could be a concern for investors. This may be the reason for the stock trading lower.
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