Hudson Global Cuts Q3 Outlook

(RTTNews) - Hudson Global, Inc. (HSON) said Monday that third quarter revenue will remain flat year-over-year at $163 million, just below the range of $165 million to $175 million that was announced on July 31, mainly due to slower progress than expected in its more challenged markets and softer exchange rates than the prevailing rates at the time of guidance.

Analysts polled by Thomson Reuters currently expect the company to post revenue of $169.20 million for the third quarter.

Lack of growth in the top line did not allow the company to offset the selected investments made in its core growth areas and its transition costs toward a more efficient operating model, the company noted.

The company now expects third quarter adjusted EBITDA to be a loss of between $4.4 to $4.6 million, as compared with the expected range of breakeven to a loss of $2 million that was announced on July 31.

Hudson will release its full third quarter results on November 6.