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View All NewsKorn Ferry revenue up 10% in fiscal Q3; North American revenue up 11%
Revenue rose 10% in constant currency at Korn Ferry in its fiscal third quarter ended Jan. 31. The increase was 6.0% on a reported basis. North American executive search revenue rose 11.2% at the Los Angeles-headquartered provider of executive search; leadership and talent consulting; and recruitment process outsourcing.
| (US$ thousands) | Q3 2019 | Q3 2018 | % change | % change (constant currency) |
| Fee revenue | $474,504 | $447,581 | 6.0% | 10% |
| Net income | $45,444 | $27,427 | 65.7% |
Korn Ferry cited strong growth across solutions.
Fee revenue by segment
| (US$ thousands) | Q3 2019 | Q3 2018 | % change | % change (constant currency) |
| Total executive search | $193,396 | $180,416 | 7.2% | 10% |
| Advisory | $201,502 | $198,056 | 1.7% | 6% |
| RPO and professional search | $79,606 | $69,109 | 15.2% | 19% |
Executive search revenue rose 11.2% in North America and 17.6% in Latin America. Asia Pacific executive search revenue rose 4.9%. However, it fell 1.8% in the company’s Europe, the Middle East and Africa segment.
Executive search fee revenue by geography
| (US$ thousands) | Q3 2019 | Q3 2018 | % change |
| North America | $114,215 | $102,716 | 11.2% |
| Europe, the Middle East and Africa | $45,940 | $46,782 | -1.8% |
| Asia Pacific | $25,687 | $24,493 | 4.9% |
| Latin America | $7,554 | $6,425 | 17.6% |
Guidance
Korn Ferry forecast fee revenue of between $485 million and $505 million in its fiscal fourth quarter, a year-over-year increase of between 2.0% and 6.2%.
Share price and market cap
Korn Ferry shares were down 7.19% to $43.12 at 10:50 a.m. Eastern time today; the company had a market cap of $2.63 billion, according to FT.com.