Monster Worldwide profit rises; exploring sale of ChinaHR business

Thu Nov 8, 2012 7:48am EST

Nov 8 (Reuters) - Online recruitment firm Monster Worldwide Inc reported a higher quarterly profit from continuing operations and said it is pursuing a sale of its ChinaHR business, among other restructuring activities.

The restructuring is expected to reduce Monster's operating expense by about $130 million on an annualized basis, the company said.

Net profit from continuing operations rose to $39.0 million, or 35 cents per share for the third quarter, from $18.5 million, or 15 cents per share, a year earlier.

Excluding items, Monster earned 9 cents per share.

Revenue fell 10 percent to $221.7 million.