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View All NewsRPO firm Hudson Global revenue down 7% in second quarter
Recruitment process outsourcing provider Hudson Global Inc. (NASDAQ: HSON) reported Q2 revenue fell 7.0%, the decrease was 3.0% in constant currency. Revenue in the Old Greenwich, Connecticut-based firm’s Asia Pacific segment rose, but its Americas and Europe segments reported declines in revenue.
“Our business in the second quarter of 2020 was impacted by the challenging macroeconomic environment caused by Covid-19," Hudson Global CEO Jeff Eberwein said.
| (US$ thousands) | Q2 2020 | Q2 2019 | % change | % constant currency |
| Revenue | $24,573 | $26,414 | -7.0% | -3.0% |
| Net loss | ($772) | ($900) | nm |
The company noted some customers instituted hiring freezes during the Covid-19 crisis while other clients with remote workers have been more able to operate as they have in the past. Hudson Global noted it is unknown how long the reduction in demand will remain.
Revenue by geography
| (US$ thousands) | Q2 2020 | Q2 2019 | % change | % constant currency |
| Hudson Americas | $2,206 | $3,982 | -44.6% | -44.4% |
| Hudson Asia Pacific | $18,833 | $17,454 | 7.9% | 14.0% |
| Hudson Europe | $3,534 | $4,978 | -29.0% | -26.9% |
Share price and market cap
Shares in Hudson were down 1.50% to $9.86 as of 12:12 p.m. Eastern time; shares were down 24.73% from their 52-week high. The company had a market cap of $26.85 million.