Korn Ferry falls as Q1 profit forecast disappoints

Korn Ferry

27/06/2023 14:23

** Shares of executive search firm Korn Ferry  KFY.N  down
3.7% at $49 premarket
    ** Co forecasts Q1 profit below Wall Street estimates, hurt
by rising operating expenses and declining fee revenue in
segments such as leadership development as well as executive
search and permanent placement
    ** Expects Q1 adjusted EPS in the range of 84 cents to $1,
while analysts' on an average estimate $1.02, per Refinitiv data
    ** However, projects Q1 revenue above analysts' estimates
after beating Q4 revenue expectations
    ** Also posts adjusted EPS in-line with analysts' estimates
    ** Up to Monday's close, stock had fallen over 11% in the
past 12 months

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))