Taleo swings to profit in Q2, shares up 12%
During its second quarter, Taleo Corporation (Nasdaq:TLEO) posted record revenues of $38.8 million, up 25% from a year ago, the company said after Thursday’s close. The news sent shares up 12% in today’s trading. Net income for the quarter ended June 30 was $1.1 million, or $0.04 per share, compared with a net loss of $1.75 million, or a loss of $0.07 per share, for the same period a year ago.
“Our results highlight both the growing demand for talent management solutions in large and small companies regardless of the economic environment,” said Michael Gregoire, chairman and CEO, in a statement. “I am also proud that we were able to perform at this level, while simultaneously working on closing our acquisition of Vurv. Taleo's ability to innovate and execute has helped enhance our leadership position.”
At 2:46 p.m. ET, shares of Dublin, Calif.-based Taleo are at $21.07, up $2.33 from Thursday’s close. Trading volume is more than three times the average number of shares.
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