Employee-placement company Kelly Services Inc. (NASDAQ:KELYA) reported Wednesday stronger-than-expected second-quarter earnings, as improved global economic conditions helped boost demand for temporary staffing.
The Troy, Michigan-based company posted earnings of $8.5 million, or 11 cents a share, compared with a loss of $74.5 million, or $1.89 cents a share, in the same quarter last year, and landing ahead of average analyst estimates of 7 cents a share, according to Thomson Reuters data.
Revenue was $1.21 billion, up 18% from $1.03 billion a year ago, and beating the Street’s view of $1.13 billion.
Kelly Services CEO Carl T. Camden said the company was “pleased” that global economic expansion continues and labor markets are slowly strengthening.
“These trends had a positive impact on our second quarter earnings as demand for temporary staffing improved,” he said. “Our efforts and discipline are clearly gaining traction.”