How did RHI's Q3 earnings surprise impact investor confidence?

**Robert Half International's (RHI) Q3 earnings surprise had a negative impact on investor confidence**, as evidenced by several key indicators:

1. **Earnings Miss**: RHI's Q3 earnings per share (EPS) fell below expectations, with the company reporting $0.66 per share, missing the Zacks Consensus Estimate of $0.71 per share. This represents a significant negative surprise, as earnings were below both absolute and relative expectations.
2. **Revenue Fall Short**: Concurrently, RHI's revenue for the quarter was reported at $1.64 billion, which was slightly above the official estimate of $1.69 billion. However, when compared to the same period in the prior year, this figure highlighted a disappointing performance, indicating a decline in revenue year-over-year.
3. **Analyst Ratings and Adjustments**: Following the release of Q3 results, analysts at William Blair decreased their earnings estimates for RHI, reflecting a more cautious outlook on the company's future performance. Additionally, the "Reduce" rating from analysts, despite strong quarterly results, suggests a bearish sentiment among experts.
4. **Shareholder Reaction**: The market responded negatively to the earnings miss, with RHI's shares experiencing a decline. For instance, after the earnings report, shares dropped by 5.5% to $62.31, indicating investor disappointment.
5. **Future Outlook Concerns**: RHI's Q3 earnings guidance for the upcoming quarter fell below consensus estimates, further dampening investor confidence in the company's short-term prospects.

In summary, RHI's Q3 earnings surprise, with a notable earnings miss and a decline in revenue, has likely led to a decrease in investor confidence. The negative analyst ratings, shareholder reactions, and concerns over the company's future outlook collectively point to a challenging period for Robert Half International.