iClick Interactive Asia reports Q3 adj. EPS (2c), two est. (3c)
Reports Q3 revenue $54.2M, two est. $52.31M. "We're very happy to report another record quarter as our total top-line revenue increased 27% YoY to US$54.2 million, even in a persistently challenging macro environment and unfavourable currency movement," said CEOSammy Hsieh. "On a currency-neutral basis our revenue would have increased 32% to US$56.4 million for the third quarter compared to the same period in 2018. We continue to ramp up our Enterprise Solutions business. This quarter we generated US$2.6 million and had US$6.8 million in revenue for the first three quarters from this unit. As a reminder, we launched this business in January this year and are in the early stages of building it out. We are firmly committed to this area and confident of its strong pickup in the fourth quarter and beyond. This month I am particularly excited about the recent financing from Marine Central Limited, backed by Mr. Tak Cheung Yam, the majority shareholder of Forbes Media LLC. Forbes Media is one of the most well-known financial media companies with abundant media resources in the world and thus we believe the relationship may evolve into other substantial opportunities given the synergies between our companies. In the third quarter our Marketing Solutions revenue grew to US$51.6 million, which is an increase of 21% from US$42.6 million for the third quarter of 2018. On a currency-neutral basis, the revenue increased 26% to US$53.7 million for the third quarter of 2019 compared with the same period last year. This is due to the increasing demand from marketer companies.We reiterate our current guidance and look forward to 2020 as iClick will operate Enterprise Solutions and Marketing Solutions as two separate growing business. We are considering developing additional products and services in other higher margin areas such as block-chain technology and we are looking to identify potential business partners in this area. We will keep investors informed of these development."