Hudson Global Reports Q1 2023 Net Income of $354,000 with a Dip in Revenue to $43.1 Million

Hudson Global, Inc.(HSON), a prominent player in the staffing and workforce solutions industry, released its condensed consolidated financial statements for the first quarter of 2023, highlighting a notable shift in its financial performance. The report reveals a significant decrease in net income and revenue compared to the same period in 2022. The company's net income plunged to $354,000, a stark contrast to the $3.02 million reported in Q1 2022. The dip in revenue was equally striking, with Hudson Global's Q1 2023 revenue amounting to $43.1 million, down from $51.9 million in the first quarter of the previous year.

Net Income Decline

Hudson Global's net income faced a sharp decline, plummeting from $3.02 million in Q1 2022 to just $354,000 in the same period this year. This substantial decrease of $2.7 million is a matter of concern for the company and its stakeholders, warranting a thorough examination of the factors contributing to this downward trend.

Revenue Contraction