51Job Needs to Find Higher -- and Hire -- Ground
The slowdown continues at 51job (NASDAQ: JOBS). The Shanghai-based provider of online recruitment services posted another quarter of decelerating top-line growth, shortly after Monday's market close. Its guidance suggests that things aren't getting any better in the current period.
Revenue rose 7.6% in local currency -- to the U.S. equivalent of $140.4 million -- for the three months ending in June. This is the first time in more than four years that 51job failed to achieve double-digit top-line growth.
Investors were ready for the deceleration: 51job's guidance three months ago was calling for just 4% to 9% in revenue growth for the second quarter. The stock still moved lower on Tuesday, largely as a result of 51job's cautious stance and uninspiring guidance.
Quelle Fool.com
