Irvine sales and marketing firm Advantage Solutions Inc. (Nasdaq: ADV) reported momentum in its sales division as it noted a recovery taking hold in its marketing business.
Advantage works with companies such as Walmart, Target and Kroger, providing e-commerce, analytics and other services.
The company reported first-quarter revenue of $791 million, down 10% from the year-ago period.
The decline was the result of challenges faced by the marketing business, predominantly with the in-store sampling services Advantage provides to clients.
Meanwhile, e-commerce and other digital services helped offset the fall in marketing.
Advantage reported a net loss of $500,000 in the quarter, narrowed from a net loss of $21.7 million a year earlier.
The company reiterated previously stated guidance of adjusted earnings before interest, taxes, depreciation and amortization for 2021 in the range of $515 million to $525 million.
The company reported its first-quarter results after market close Monday. It ended the day’s trading session down 6.9% to $12.07 for a market cap of $3.8 billion.