Acxiom Corp. of Little Rock on Tuesday swung to a third-quarter profit compared to a loss in the same quarter last year as income in each of the company’s business segments grew.
The publicly traded data services company (Nasdaq: ACXM) reported net earnings of $1.07 million, up from $1.41 million loss in the third quarter of the previous year.
Diluted earnings per was 1 cent, up from a loss of 2 cents last year. Quarterly revenue rose 1 percent to $223 million.
“Our global momentum continues to accelerate,” CEO Scott Howe said in a news release. “In addition, the integration of Arbor and Circulate is well underway and we are delivering the client benefits and financial synergies we anticipated. This is a win for our partner network, clients and shareholders.”
The marketing services segment reported revenue of $101 million, down 13 percent compared to the third quarter of last year. Acxiom said lost revenue following the sale of its Impact email business offset slight gains elsewhere.
Segment income was $21 million though, up 4 percent compared to the same time last year.
Audience Solutions revenue was $83 million, up 8 percent from 2016, with income of $53 million, a 13 percent increase. The segment launched self-service tool Audience Cloud for advanced cross-channel management of Acxiom data during the quarter.
Connectivity revenue, which includes the Arbor and Circulate acquisitions, was $39 million, up 36 percent compared to the third quarter of the previous year. The segment also added 50 customers and 30 partner integrations during the quarter, Acxiom reported.
LiveRamp product revenue grew 61 percent year-over-year, while segment income was $2 million compared to a loss of $1 million last year.
Looking forward, the company said it expects fiscal 2017 revenue of between $870 million and $875 million, with earnings per share from continuing operations of about 12 cents.
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