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- iClick Interactive Asia Group Ltd ICLK reported third-quarter FY21 revenue growth of 26% year-on-year to $86.8 million, beating the consensus of $86.5 million.
- Revenue from Marketing Solutions grew 11% Y/Y to $66.6 million, while revenue from Enterprise Solutions surged 131% to $20.3 million.
- Gross profit rose 8% Y/Y to $21.7 million mainly due to contribution from higher-margin Enterprise Solutions. iClick reported an operating loss of $(2.3) million.
- Adjusted net income per ADS of $0.01 missed the consensus of $0.04.
- Gross billing was $195.4 million, up 17% Y/Y driven by increasing marketers' demand mainly from fashion, food and beverage, premium, and luxury sectors.
- "While China's entire advertising sector was adversely affected by the changing regulatory environment and heightened macroeconomic uncertainties, we remain confident in the long-term growth of China's digital advertising industry," said Jian "T.J." Tang, Chairman, CEO and Co-Founder.
- Outlook: iClick sees FY21 revenue of $318 million - $338 million versus the consensus of $327 million. iClick sees Enterprise Solutions revenue of $62 million - $68 million.
- Price Action: ICLK shares traded higher by 1.31% at $6.585 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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