Hudson Global cites continued hiring slowdown in Q3
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RPO provider Hudson Global (NASDAQ: HSON) reported a difficult market in the third quarter. Revenue fell 8.1% year over year in constant currency. The decline was led by the Asia Pacific region, the company’s largest geography, where revenue fell 15.4%.
“Results for the third quarter of 2024 continued to be impacted by a market-driven slowdown in hiring activity, which we are seeing across our client base,” CEO Jeff Eberwein said in a press release. “We have taken steps to mitigate the impacts of the current environment while also positioning ourselves for a market recovery.”
Hudson Global announced in April that it acquired Striver, a Dubai-based executive search organization.
Hudson Global – Q3 2024
(US$ thousands) | Q3 2024 | Q3 2023 | % change | % constant currency |
Revenue | 36,853 | 39,398 | -6.5% | -8.1% |
Net loss/net income | -846 | 533 | nm | - |
Revenue by Geography
(US$ thousands) | Q3 2024 | Q3 2023 | % change | % constant currency |
Americas | 7,578 | 7,167 | 5.7% | 5.9% |
Asia Pacific | 22,560 | 26,106 | -13.6% | -15.4% |
Europe | 6,715 | 6,125 | 9.6% | 7.1% |
Share Price
Shares in Hudson Global were down 16.41% to $12.05 as of 10:34 a.m. Eastern time today. They set a new 52-week low earlier today when they reached $11.73.