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View All NewsHudson revenue up 60%, cites client win in Asia-Pacific operations
Hudson Global Inc. (NASDAQ: HSON), a provider of RPO and other workforce solutions, reported second-quarter revenue rose 59.7% with strong growth in its Asia-Pacific operations. However, gross margin narrowed.
| (US$ thousands) | Q2 2019 | Q2 2018 | % change | % constant currency |
| Revenue | $26,414 | $17,015 | 55.2% | 59.7% |
| Gross profit | $11,659 | $10,801 | 7.9% | 13.2% |
| Gross margin percentage | 44.1% | 63.5% | ||
| Net loss | ($900) | ($1,364) | nm |
Revenue growth in Asia Pacific was driven by the start of a significant contract in Australia to manage a portion of the contingent workforce for a “large Asia-based technology company,” according to Hudson. However, gross profit in Asia Pacific fell 1% in constant currency.
In its Americas segment, the company said new client wins fueled growth.
Revenue by geography
| (US$ thousands) | Q2 2019 | Q2 2018 | % change | % constant currency |
| Hudson Americas | $3,982 | $3,509 | 13.5% | |
| Hudson Asia Pacific | $17,454 | $9,600 | 81.8% | 87% |
| Hudson Europe | $4,978 | $3,906 | 27.4% |
Guidance
Hudson forecast revenue will be up 10% for the full year 2019.
Share price and market cap
Shares in Hudson were down 1.64% to $12.00 as of 11:05 a.m. Eastern time; the company had a market cap of $35.9 million, according to FT.com.