Shares of ASGN Inc. (NYSE: ASGN) soared 6.08% in pre-market trading on Thursday following the release of the company's second-quarter earnings report, which exceeded analyst expectations. The staffing and IT services firm demonstrated resilience in a challenging market environment, posting results that outperformed Wall Street estimates.
ASGN reported adjusted earnings per share (EPS) of $1.17 for Q2, significantly beating the consensus estimate of $1.08. This represents a 7.93% surprise to the upside. Revenue for the quarter came in at $1.020 billion, surpassing the analyst consensus of $995.5 million by 2.39%. Despite a year-over-year revenue decline of 1.45%, the company's ability to exceed expectations in the current economic climate has impressed investors.
Adding to the positive sentiment, ASGN provided an optimistic outlook for the third quarter. The company forecasts Q3 revenue between $992 million and $1.012 billion, aligning with the consensus estimate of $1 billion. Additionally, ASGN projects adjusted EPS for Q3 in the range of $1.18 to $1.26, compared to the consensus of $1.22. This forward-looking guidance suggests that the company anticipates continued strong performance, further fueling investor confidence and contributing to the stock's pre-market rally.
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