iClick Interactive Asia Reports Q2 Earnings, Lowers Guidance.
Byline: Tanzeel Akhtar
iClick Interactive Asia Group (NASDAQ: ICLK) reported second-quarter losses of 2 cents per share, which beat the analyst consensus estimate by 1 cent. This is unchanged from the same period last year.
The company reported quarterly sales of $49.347 million, which beat the analyst consensus estimate of $47.95 million by 2.91%. This is a 15.57% increase over sales of $42.697 million the same period last year.
iClick Interactive Asia lowered fiscal year 2019 sales guidance from $200 million-220 million to $190 million-210 million versus the $197 million estimate.
"We are pleased to report another record quarter with increase in top-line revenues by 16% YoY to $49.3 million amid a challenging business environment," said Sammy Hsieh, CEO of iClick. "During this quarter the Renminbi depreciated against the U.S. dollar by 7% compared with the second quarter of 2018. Eliminating currency fluctuation, our revenue would have increased 24% to $52.8 million for the second quarter of 2019 compared with the same period last year."
iClick Interactive Asia shares were trading up 1.28% at $3.17. The stock has a 52-week high of $6.36 and a 52-week low of $2.72.
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