Second-quarter revenue rose 5.6% at Robert Half International Inc. (NYSE: RHI) on a same billing-day, constant-currency basis to $1.51 billion, ahead of market estimates.

Temporary gross margins expanded driven by better pricing and lower payroll taxes.

The group said its 5.6% same-day constant currency growth slowed from the prior sequential quarter's 8.5% rate, driven by slowing in international markets, mainly in Europe and the UK, though the group also noted comparatives were tough. The company provided no detailed disclosure on its internatonial performance by country.

US revenue was up 6.0% on a same billing-day, constant currency basis and by 5.6% in reported rates. International revenue rose by 4.4% on a same billing-day, constant currency basis. Growth in both regions was slower than in the previous quarter.

“We saw solid demand for our staffing and Protiviti services during the second quarter,” said Harold M. Messmer, Jr., chairman and CEO of Robert Half. “Global talent shortages persist across our professional disciplines, particularly in the United States, where unemployment remains near a 50-year low. This enhances the value of our services.”

Revenue by segment

Looking ahead, the midpoint based on the company’s Q3 2019 guidance implies 5% revenue growth (on a same-day constant currency basis), with stronger US performance offset by slowing trends in international markets.

In trading yesterday, Robert Half International shares closed at $58.80, up 2.49% on the day and 11.38% above the 52 week low of $52.79 set on 3 January 2019. Based on its current share price the company has a market value of $6.97 billion.