Innodata reports Q3 diluted EPS 51c, consensus 13c

Reports Q3 revenue $52.2M, consensus $36.11M. Jack Abuhoff, CEO, said “Innodata (INOD) continued to build on its recent progress, leading to record third quarter revenue of $52.2M, an increase of 136% year-over-year. As a result of strong business momentum, Innodata is raising 2024 full-year revenue guidance to between 88% and 92% year-over-year revenue growth. We are seeing strong business momentum reflected in revenue growth, margin expansion, broadening customer relationships, and continuing progress on our strategic roadmap. We believe increasing investments by the world’s largest tech companies in generative AI and large language models, LLMs, will continue to be a growth catalyst for Innodata.”