October 29, 2009 / 11:19 AM / 10 years ago

UPDATE 2-Monster Worldwide posts 3rd-quarter profit

* Q3 shr ex items 1 cent vs. nil expected

* Q3 rev $125 mln down 35 pct (Adds bullet points, details on expenses)

NEW YORK, Oct 29 (Reuters) - Monster Worldwide Inc MWW.N, parent of the jobs website Monster.com, reported a 32 percent drop in quarterly profit on Thursday, reflecting lower global recruitment advertising, but results beat expectations, aided by cost cuts.

Net earnings were $32.8 million, or 27 cents per share, compared with $42.8 million, or 35 cents per share a year earlier.

Stripping out an income tax benefit, Monster earned a penny per share, while analysts were expecting a break-even quarter, according to Thomson Reuters I/B/E/S.

Revenue fell 35 percent to $215 million, compared with Wall Street forecasts for sales of $223 million. International sales fell at a faster rate than North American revenue.

Monster, which did not provide a sales or earnings forecast, said the global recruitment market remains challenging. It said it cut operating expenses 19 percent from a year earlier and costs were also down sequentially from the second quarter. (Reporting by Nick Zieminski, editing by Maureen Bavdek)

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