Robert Half International (RHI) tumbles as macro uncertainty impacts client hiring cycles

Robert Half International (NYSE: RHI) shares plunged in premarket trading after the company missed quarterly earnings and revenue expectations.

The management consulting company reported second-quarter earnings of $1 per share after the close Tuesday, $0.13 worse than the analyst estimate of $1.13. Revenue for the quarter came in at $1.64 billion versus the consensus estimate of $1.69 billion.

The company revealed that its second-quarter results for talent solutions were impacted by elongated client hiring cycles due to the ongoing global macro uncertainty.

"Protiviti was much less impacted with its diversified suite of solutions offerings," said Keith Waddell, president and chief executive officer at Robert Half. "Pricing and gross margins remain strong, demonstrating the value-added benefit we deliver for our clients. We remain confident that we are well positioned to benefit significantly as the macro landscape improves."

DHI is currently down more than 10% at $72 per share ahead of the open, its lowest level since late June.

By Sam Boughedda

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