Shares in iClick Inch Higher on "Record High" Revenue From Marketing Solutions

The stock of iClick closed 1 percent higher on Monday after the company reported its financials for the second quarter.

Author: Anthony Russo   

The stock in iClick Interactive Asia Group Ltd. (Nasdaq: ICLK) inched up 3 cents to $3.20 per share on Monday after the company said it enjoyed record growth in its marketing solutions business in the second quarter. 

The Hong Kong-based company, which provides digital marketing, said in a statement today that its revenue in the three months through June reached $49.3 million, up 16 percent year-over-year. Net loss was $3.2 million, or 2 cents per American depositary share, compared with $2.6 million, or 2 cents per ADS, a year ago.

IClick attributed the revenue increase to an increase in contributions from its new enterprise solutions launched in January, as well as existing marketing solutions. 

Sammy Hsieh, the chief executive officer and co-founder of iClick, said in a statement today, "We are pleased to report another record quarter with increase in top-line revenues. Our Enterprise Solution initiative has continued to ramp up as we reported a sequential gain of more than 80% from the first quarter of 2019 to $2.8 million."

He added, "For the first half of 2019 the Enterprise Solutions business accounts for 4.8% of our total revenue. We are optimistic that the contribution from this key area will consistently increase over time as we continue to receive strong demand from a number of our leading brand clients."

Revenue from the company's marketing solutions reached $46.6 million, up 9 percent year-over-year and was a record high, iClick said.

Hsieh also spoke of the company's recent partnership with Vector Inc., a strategic PR group in Japan. The company plans to provide Vector with brands and technology to target Chinese consumers traveling to Japan.

Looking ahead, iClick said it anticipates revenue in the range of between $50 million and $54 million in the third quarter and expects full-year revenue in the range of between $190 million and $210 million.