Recruit Holdings reported first-quarter results, with operating profit rising sharply year on year and the stock hitting its daily price limit. The company also substantially raised its full-year forecast, indicating an outlook above consensus.
Recruit Holdings reported first-quarter operating profit of ¥255.4 billion, a sharp 66.1% increase year on year. The result was well above market expectations, prompting a positive reaction in the company’s share price.
The company raised its full-year operating profit forecast from ¥787 billion to ¥945 billion, indicating expected growth of nearly 50% from the previous fiscal year. Market consensus had been viewed as exceeding ¥800 billion, but the revised outlook is above that level.
The HR technology business was cited as the main growth driver. Although the number of job postings on Indeed remained sluggish, U.S. revenue expanded as Premium Sponsored Jobs grew.