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Korn Ferry Q2 revenue slips 4.2% impacted by economic climate

Korn Ferry Q2 revenue slips 4.2% impacted by economic climate

Craig Johnson
| December 5, 2024
Corporate executive office room interior

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Korn Ferry (NYSE: KFY) reported fee revenue fell 4.2% year over year in its fiscal second quarter ended Oct. 31 to $674.4 million. The current economic climate negatively affected the company’s “professional search and interim” business as well as its consulting business, the company said. Second-quarter revenue did edge up in its executive search business, with growth coming from outside the US.

It noted business trends were up for its digital business and stable for its consulting operations.

“The durability and potential of our business were evident once again during the quarter with stability in our talent acquisition fee revenues and new business, digital new business trends improving and steady performance in consulting,” CEO Gary D. Burnison said in a press release.

Net income jumped in the second quarter. The previous fiscal year’s second quarter included $63.5 million in restructuring charges.

Korn Ferry forecast third-quarter fee revenue of between $635.0 million and $665.0 million, a year-over-year decrease of between 0.6% and 5.0%.

Korn Ferry - Q2 2025

(US$ thousands)

Q2 2025

Q2 2024

% change

% constant currency

Fee revenue

674,365

704,003

-4.2%

-5%

Reimbursed expenses

7,595

8,444

-10.1%

-

Total revenue

681,960

712,447

-4.3%

-

Net income

62,343

44

nm

-

Fee revenue by segment

(US$ thousands)

Q2 2025

Q2 2024

% change

% constant currency

Consulting

166,771

177,795

-6.2%

-7%

Digital

92,893

97,092

-4.3%

-5%

Executive search

205,999

202,993

1.5%

1%

Professional search and interim

121,107

138,384

-12.5%

-13%

RPO

87,595

87,739

-0.2%

-2%

Executive Search Fee Revenue by Geography

(US$ thousands)

Q2 2025

Q2 2024

% change

% constant currency

North America

129,891

132,512

-2.0%

-2%

Europe, the Middle East and Africa

46,788

43,098

8.6%

5%

Asia Pacific

21,464

19,304

11.2%

9%

Latin America

7,856

8,079

-2.8%

9%

Share Price

Korn Ferry (KFY: NYQ) closed on 5 December at $72.08, 10.62% below its 52-week high of $80.64, set on 12 November 2024.