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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<h3 id="key-highlights">Key Highlights</h3>
<ul>
 <li><strong>Q2 FY’24 Fee Revenue:</strong> Korn Ferry (NYSE: KFY) reported a fee revenue of $704.0 million, marking a 3% decrease from the previous year.</li>
 <li><strong>Net Loss and Earnings Per Share:</strong> The company experienced a net loss of $1.7 million and reported an adjusted diluted earnings per share of $0.97.</li>
 <li><strong>Business Segments Performance:</strong> Digital and Consulting segments showed resilience with nearly 3% growth, while Executive Search and RPO segments witnessed notable declines.</li>
</ul>
<p>Korn Ferry released its second quarter fiscal 2024 results, revealing mixed financial performance. The company’s fee revenue for the quarter was $704.0 million, a decrease of 3% compared to the same period last year. This decline is a notable deviation from the market expectations of an EPS of $0.95 and revenue of $686.85 million. <br><br>The reported net loss of $1.7 million includes a significant charge related to restructuring actions, indicating the company’s efforts to realign its workforce amidst challenging economic conditions. The adjusted diluted earnings per share stood at $0.97, surpassing the anticipated EPS.</p>
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<h3 id="consulting-and-digital-segments-grew-nearly-3">Consulting and Digital Segments Grew Nearly 3%</h3>
<p>Korn Ferry’s business segments displayed varying performances. The Consulting and Digital segments showed resilience, each growing by nearly 3%. This growth reflects the company’s successful adaptation and relevance in a rapidly evolving business landscape. Conversely, the Executive Search segment saw a 7% decline in fee revenue, primarily due to reduced executive search activity in a challenging economic environment. The Recruitment Process Outsourcing (RPO) segment experienced an 18% decrease in fee revenue, attributable to reduced demand in the face of global economic challenges. These contrasting segment performances illustrate the diverse impacts of the current macroeconomic conditions on different areas of Korn Ferry’s operations.</p>
<h3 id="645m-to-665m-expected-in-fees-next-quarter">$645M to $665M Expected in Fees Next Quarter</h3>
<p>Looking forward, Korn Ferry anticipates a continued challenging business environment. The company’s proactive measures, such as restructuring and realignment of its workforce, are aimed at navigating these complexities. For the upcoming quarter, the company expects fee revenue to be in the range of $645 million to $665 million and adjusted diluted EPS to be between $0.96 to $1.02. This forecast suggests cautious optimism, balancing the need to manage ongoing economic uncertainties with the drive to capitalize on emerging business opportunities. Korn Ferry’s strategic focus on expanding its Consulting and Digital segments, along with cost control measures, positions it to potentially offset pressures in other segments and maintain its market relevance.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/korn-ferry-q2-fy24-a-3-decrease-in-revenue-to-704m/">Korn Ferry Q2 FY’24: A 3% Decrease in Revenue to $704M</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Korn Ferry Q2 FY’24: A 3% Decrease in Revenue to $704M

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