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Shares of Korn/Ferry International soar after 4Q earnings beat Street on strong revenue

The Los Angeles-based company also offered a bright outlook that surpassed analyst expectations
A row of company executives
The talent-management company's shares surged in pre-market trade

Shares of Korn/Ferry International (NYSE:KFY) climbed in pre-market trade Wednesday after the Los Angeles-based talent-management company posted fourth-quarter earnings that handily beat Wall Street estimates.

Shares surged 13.6% to US$64.22 in the pre-market.

Korn/Ferry reported fourth-quarter April 2018 earnings of US$0.80 per share on revenue of US$488.4mln. The results exceeded Wall Street expectations as the consensus earnings estimate was US$0.70 per share on revenue of $454.4mln. Revenue grew 16.4% on a year-over-year basis.

For the year, the staffing company reported profit of US$133.8mln, or US$2.35 per share, on revenue of US$1.77bn.

“We achieved the highest fiscal year fee revenue in our firm's history – up 13% year over year," said Korn/Ferry CEO Gary D. Burnison.

"We've come a long way on our journey ... Today's Korn Ferry is all about synchronizing our clients' strategy and talent to help them drive superior performance,” he added. 

Rosy outlook

The company said it expects first-quarter earnings to range from US$0.67 to US$0.75 per share on revenue of US$450mln to US$470mln. The current consensus earnings estimate is US$0.66 per share on revenue of US$432.8mln for the quarter ending July 31, 2018.

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