Hudson Global (NASDAQ: HSON) reported Q3 EPS of ($0.41), $0.28 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $25.41 million versus the consensus estimate of $24.5 million.

2020 Third Quarter Summary

• Revenue of $25.4 million decreased 1.4% from the third quarter of 2019 and 4.7% in constant currency.
• Adjusted net revenue of $9.1 million decreased 20.4% from the third quarter of 2019 and 22.6% in constant currency.
• Net loss was $1.2 million, or $0.41 per basic and diluted share, compared to net income of $0.4 million, or $0.12 per basic and diluted share, for the third quarter of 2019. Adjusted net loss per diluted share (Non-GAAP measure)* was $0.38 compared to adjusted net income per diluted share of $0.13 in the third quarter of 2019.
• Adjusted EBITDA (Non-GAAP measure)* loss was $0.7 million compared to adjusted EBITDA of $0.8 million in the third quarter of 2019.
• Total cash including restricted cash was $29.7 million at September 30, 2020.
• “Our business in the third quarter of 2020 continued to be impacted by the challenging macroeconomic environment caused by COVID-19,” said Jeff Eberwein, Chief Executive Officer of Hudson Global. “We are positioned to respond quickly as activity begins to rebound. We are excited about the recent acquisition of Coit Group and what our new, combined team can accomplish together in the technology space. We believe this accretive combination will generate considerable value for our clients, team, and stockholders.”

For earnings history and earnings-related data on Hudson Global (HSON) click here.