Kelly Services Swings To Profit (KELYA)

Kelly Services, Inc. KELYA on Wednesday morning released financial results that beat Wall Street expectations. Kelly Services, Inc reported 3rd quarter net earnings of $9.6 million, or 26 cents per share, compared to a net loss of $14.8 million, or 43 cents per share, a year earlier. The company's revenue rose to $1.28 billion, up from $1.05 billion a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 18 cents per share, on revenue of $1.25 billion. President and Chief Executive Officer Carl T. Camden said, "We're very pleased that demand for temporary staffing accelerated as global economic expansion persisted and labor markets continued to slowly strengthen. These trends, along with our ability to maintain a leaner cost structure, translated into solid third quarter earnings." Kelly Services, Inc. (KELYA) ended the previous trading session at $16.46 per share. Analysts covering the company's stock have a consensus price target of $20.25 per share. Read more from Benzinga's Company news.