Glassdoor Owner Recruit Posts Rise in First-Quarter Net Profit

By Kosaku Narioka

Recruit Holdings reported a rise in first-quarter net profit, thanks to stronger earnings from its human-resources technology business and other key segments.

The owner of the Indeed and Glassdoor job sites said Thursday that net profit increased 8.5% from a year earlier to 106.43 billion yen, equivalent to $725.5 million, for the three months ended June.

That beat the estimate of Y96.9 billion in a poll of analysts by data provider Visible Alpha.

Quarterly revenue increased 6.0% to Y901.56 billion.

Adjusted earnings before interest, taxes, depreciation and amortization from operations of the Indeed and Glassdoor job sites rose 2.2% to Y100.2 billion.

Recruit maintained its earnings forecasts for the year ending March 2025. The company continues to expect revenue to be between Y3.300 trillion and Y3.500 trillion and net profit to be between Y315.00 billion and Y400.00 billion this fiscal year.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

August 08, 2024 03:17 ET (07:17 GMT)

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