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Hudson Acquisition I Corp. Reports Net Income of $290.8 Million for the Quarter
Quarterly Revenue of $0 Million
Hudson Acquisition I Corp. [HUDAR], a financial company, has announced its financial results for the quarter ended March 31, 2023. The company reported a net income of $290.8 million for the quarter, representing a significant improvement compared to a net loss of $17.5 million in the same period last year. The company also reported quarterly revenue of $0 million.
Hudson Acquisition I Corp. has shown a remarkable improvement in its financial performance during the quarter. The company's net income increased by $308.2 million compared to the previous year, driven by higher interest earned on marketable securities held in the Trust Account and other income. The company's loss from operations decreased by $244.5 million, reflecting strong cost management and operational efficiencies.