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View All NewsHudson Global revenue jumps in Q3 thanks to Asia Pacific operations
November 04, 2019
Hudson Global Inc. (NASDAQ: HSON) reported Friday that third-quarter revenue was up 50.4% thanks to an increase in Asia Pacific revenue. The increase in revenue was 56.8% on a constant currency basis at the Old Greenwich, Connecticut-based provider of recruitment process outsourcing.
| (US$ thousands) | Q3 2019 | Q3 2018 | % change | % constant currency |
| Revenue | $25,762 | $17,127 | 50.4% | 56.8% |
| Gross profit | $11,396 | $10,881 | 4.7% | 8.6% |
| Gross margin percentage | 44.2% | 63.5% | ||
| Net income/loss | $364 | ($870) | nm |
Asia Pacific revenue was driven by a significant contract in Australia signed in the second quarter of this year. It calls for Hudson to manage a portion of the contingent workforce for a large Asia-based technology company.
Revenue by geography
| (US$ thousands) | Q3 2019 | Q3 2018 | % change |
| Hudson Americas | $3,510 | $3,590 | -2.2% |
| Hudson Asia Pacific | $17,436 | $9,306 | 87.4% |
| Hudson Europe | $4,816 | $4,231 | 13.8% |
Guidance
The company expects revenue and gross profit to be up 10% year over in constant currency.
Share price and market cap
Shares in Hudson closed up 8.01% to $12.00 on Friday; the company had a market cap of $35.5 million, according to FT.com.