Recruit Holdings profit jumps 14% despite revenue decline

Recruit Holdings reported Q1 revenue of 878.8bn yen, down 2.5% year-over-year, but profit attributable to owners jumped 13.6% to 120.9bn yen. Basic earnings per share rose 21.5% to 83.97 yen.

The company completed a 450bn yen share buyback program and reduced net cash to 563.5bn yen as of June 30. Full-year guidance remains unchanged at 3,520bn yen revenue and 428bn yen profit.