Mastech Digital (NYSEAMERICAN: MHH) revenue rose 8.5% in the third quarter, marking its third consecutive quarter of revenue growth. Revenue increased 6.8% in its IT staffing business and 16.9% in its data and analytics services business.

“The third quarter of 2024 was a continuation of the positive momentum that we experienced during the first half of the year,” President and CEO Vivek Gupta said in a press release. “A healthier macro-economic outlook and increased operational efficiencies within both of our business segments have elevated our demand trajectory in 2024.”

Gross margin also improved to a company performance record 28.5%, which Gupta said highlights upgrades made to the delivery-side of the organization during the year.

In data and analytics, order bookings totaled $11.1 million during the quarter — a $6 million increase from bookings 2023’s third quarter — as numerous existing clients increase spending due to an improved economic outlook. The data and analytics segment provides data management, data engineering, customer experience consulting, data analytics and cloud services.

Mastech also noted its IT Staffing Services clients have also shown a willingness to start new assignments during 2024 compared to the previous year, as its billable consultant base rose by 13% over the first nine months of 2024.

Mastech is headquartered near Pittsburgh.

Mastech Digital Inc. - Q3 2024

Revenue by segment

Share Price

Shares in Mastech Digital were up 5.14% to $10.84 as of 11:54 a.m. Eastern time. They set a new 52-week high during today’s trading session when it reached $11.24.