iClick Clocks 26% Revenue Growth In Q3, Tops Consensus

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.

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