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View All NewsRobert Half Q2 revenue rises 17.9%
Robert Half International Inc. (NYSE: RHI) reported second-quarter revenue rose 17.9% year over year as the company cited a robust global labor market and demand environment.
“Talent solutions led the way with permanent placement and contract talent solutions growing 39% and 19%, respectively, on a year-over-year basis,” President and CEO M. Keith Waddell said. “Core Protiviti solutions also remained strong.”
| (US$ thousands) | Q2 2022 | Q2 2021 | % change | % change adjusted |
| Revenue | $1,862,827 | $1,580,581 | 17.9% | 20.2% |
| Gross margin | $815,547 | $664,872 | 22.7% | |
| Gross margin percentage | 43.8% | 42.1% | ||
| Net income | $175,821 | $149,213 | 17.8% |
US revenue rose 20.2% in the second quarter. Contract talent solutions revenue in the US rose 22.7% while permanent placement talent solutions revenue rose 44.3%.
International revenue at Robert Half rose 10.0% year over year in the second quarter; the increase was 20.4% on an adjusted basis, which excludes the impact of billing days and currencies. International contract talent solutions rose 7.0%, or 16.6% on an adjusted basis. International permanent placement talent solutions rose 28.0%, or 39.0% on an adjusted basis.
Revenue by business line
| (US$ thousands) | Q2 2022 | Q2 2021 | % change | % change adjusted |
| Finance and accounting | $810,910 | $663,892 | 22.1% | 24.4% |
| Administrative and customer support | $274,141 | $263,192 | 4.2% | 6.3% |
| Technology | $218,190 | $194,233 | 12.3% | 13.9% |
| Elimination of intersegment revenue | -$137,548 | -$143,036 | - | - |
| Total contract talent solutions | $1,165,693 | $978,281 | 19.2% | 21.3% |
| Permanent placement talent solutions | $200,096 | $143,640 | 39.3% | 42.6% |
| Protiviti | $497,038 | $458,660 | 8.4% | 10.8% |
Share price and market cap
Shares in Robert Half were down 6.41%% to $76.29 as of 1:46 p.m. Eastern time; they were 4.36% above their 52-week low, according to FT.com. The company had a market cap of $9.14 billion.