Third-quarter revenue at Hudson Global Inc. (NASDAQ: HSON) rose 15.9% in constant currency to $48.7 million with the company’s Americas segment posting the fastest growth. The Old Greenwich, Connecticut-based provider of recruitment process outsourcing noted slowdowns in project work tech hiring.
“The third quarter’s results were impacted by a reduction in project RPO work as well as a slowdown in hiring activity in the technology sector, which is expected to continue into 2023,” Hudson CEO Jeff Eberwein said. “Despite these headwinds, activity at most existing clients remains robust and our sales pipeline is heavily focused on the healthcare sector.”
In the America, Hudson reported revenue grew on an organic basis and was benefited by the acquisition of Karani in the fourth quarter of 2021.
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Share price and market cap
Shares in Hudson Global were down 15.62% to $30.22 as of 12:33 p.m. Eastern time; they were 39.80% above their 52-week low, according to FT.com. The company has a market cap of $101.1 million.