Mastech Digital (NYSEAMERICAN: MHH) revenue fell 5.1% in the second quarter with the decline wholly in its IT staffing business, which saw revenue fall by 6.4%. Mastech’s data and analytics services business saw revenue edge up by 1.2%. Revenue was above analysts’ estimates.

Second-quarter gross margin improved.

“The second quarter of 2024 was a continuation of market improvements experienced during the first quarter of 2024, as many of our clients appear to have shifted their spending patterns in a positive direction,” President and CEO Vivek Gupta said in a press release.

In data and analytics, legacy clients increased their spending when compared to last year, according to the company. The data and analytics segment provides data management, data engineering, customer experience consulting, data analytics and cloud services.

Mastech also noted IT staffing clients have shown an increased willingness to start new assignments in the first half of this year; the firm grew its billable consultant base by nearly 10%.

Second-quarter revenue increased by $2.7 million on a sequential basis.

Mastech is headquartered near Pittsburgh.

Mastech Digital - Q2 2024

Revenue by Segment

Share Price

Shares in Mastech Digital were up 10.58% to $8.97 as of 11:05 a.m. Eastern time. They were 25.43% above their 52-week low.