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View All NewsHudson Global reports Q3 revenue down 5% in constant currency with declines in the Americas and Europe
Recruitment process outsourcing provider Hudson Global Inc. (NASDAQ: HSON) reported third-quarter revenue fell 4.7% in constant currency. Its Americas and Europe segments posted revenue declines while Asia Pacific revenue rose.
“Our business in the third quarter of 2020 continued to be impacted by the challenging macroeconomic environment caused by Covid-19,” CEO Jeff Eberwein said. “We are positioned to respond quickly as activity begins to rebound. We are excited about the recent acquisition of Coit Group and what our new, combined team can accomplish together in the technology space.”
| (US$ thousands) | Q3 2020 | Q3 2019 | % change | % constant currency |
| Revenue | $25,413 | $25,762 | -1.4% | -4.7% |
| Net loss | ($1,157) | $364 | nm |
Old Greenwich, Connecticut-based Hudson reported the Covid-19 pandemic continued to reduce demand. On the other hand, the company said it’s seeing signs of positive momentum at some clients.
Revenue by geography
| (US$ thousands) | Q3 2020 | Q3 2019 | % change | % constant currency |
| Hudson Americas | $1,934 | $3,510 | -44.9% | -44.9% |
| Hudson Asia Pacific | $19,877 | $17,436 | 14.0% | 9.7% |
| Hudson Europe | $3,602 | $4,816 | -25.2% | -39.4% |
Share price and market cap
Shares in Hudson were trading at $10.10 as of 10:45 a.m. Eastern time, 22.90% below their 52-week high. The company had a market cap of $27.1 million.