ZipRecruiter stock surges on surprise second-quarter profit

By Mark R. Long

ZipRecruiter's stock surged Thursday after the online job-market site posted a surprise quarterly profit.

Shares of the Santa Monica, Calif., company (ZIP) jumped 13.6%, to $8.24, though the stock remains down nearly 40% from the start of the year.

Second-quarter net income came in at $7 million, or 7 cents a share, less than half the $14.4 million, or 14 cents a share a year earlier, ZipRecruiter reported after the bell Wednesday. Analysts polled by FactSet, however, had forecast a net loss of $7.6 million, or 8 cents a share.

Revenue fell 27% from a year earlier, to $123.7 million, though this also beat forecasts for $117.5 million.

The company said it saw signs of a trough approaching in much of the second quarter, but the trend in the last few weeks of June through July tempered its expectations for the current quarter. ZipRecruiter said it expected third-quarter revenue of $112 million, the midpoint of guidance for $109 million-$115 million. Analysts polled by FactSet forecast third-quarter revenue of $115.9 million.

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08-08-24 1855ET

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