Robert Half revenue down 6.1% in Q4, in line with expectations
Robert Half revenue down 6.1% in Q4, in line with expectations

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Robert Half revenue fell 6.1% in the fourth quarter, the company reported Jan. 29. Most business segments posted year-over-year revenue declines except for the Protiviti division, where revenue rose 5.3%.
“Revenues and earnings for the fourth quarter were largely in line with our expectations, led by Protiviti, which reported year-on-year revenue growth for the second straight quarter,” President and CEO M. Keith Waddell said in a press release.
Waddell also noted that contract revenue remained stable throughout the quarter.
“As we move into the new year, we are very encouraged by the significant rise in US business confidence that followed the recent elections,” he said.
US revenue fell 4.7% year over year in the fourth quarter and was down 5.7% when adjusted for billing days. Meanwhile, international revenue fell 10.9%. It was down by 10.2% when adjusted for the effects of currency and billing days.
The company noted that perm placement revenue represented 12.1% of consolidated revenue.
Robert Half posted first-quarter revenue guidance of between $1.35 billion and $1.45 billion, a year-over-year decline of 3% at the midpoint on an adjusted basis.
Waddell said in an earnings conference call that recent economic data is upbeat for the staffing industry.
“We are encouraged by the current combination of elevated job openings, low unemployment and strong business confidence ― each of which is even more favorable than similar metrics from the early recovery periods following the dot-com and great financial crisis downturns,” he said.
Robert Half - Q4 2024
(US$ thousands) | Q4 2024 | Q4 2023 | % change | % change adjusted* |
Service revenue | 1,382,372 | 1,472,892 | -6.1% | -6.6% |
Gross margin | 536,098 | 584,164 | -8.2% | - |
Gross margin percentage | 38.8% | 39.7% | - | - |
Net income | 54,290 | 87,304 | -37.8% | - |
Service Revenue
(US$ thousands) | Q4 2024 | Q4 2023 | % change | % change adjusted* |
Finance and accounting | 574,898 | 635,281 | -9.5% | -9.8% |
Administrative and customer support | 172,783 | 189,471 | -8.8% | -9.4% |
Technology | 158,009 | 163,724 | -3.5% | -4.1% |
Elimination of intersegment revenue | -120,176 | -101,098 | - | - |
Total contract talent solutions | 785,514 | 887,378 | -11.5% | -11.8% |
Permanent placement | 108,099 | 121,564 | -11.1% | -11.4% |
Protiviti | 488,759 | 463,950 | 5.3% | 4.5% |
Full-Year Results
(US$ thousands) | FY 2024 | FY 2023 | % change |
Service revenue | 5,795,837 | 6,392,517 | -9.3% |
Gross margin | 2,247,230 | 2,575,004 | -12.7% |
Gross margin percentage | 38.8% | 40.3% | - |
Net income | 251,598 | 411,146 | -38.8% |
Share Price
Shares in Robert Half were down 4.41% to $66.10 as of 11:13 a.m. Eastern time Jan. 30. They were 15.86% above their 52-week low.
*Adjusted for impact of currencies and billing days.