TransPerfect Sees 13% Growth in the Third Quarter Citing Pent-up Demand for Global Communications

By AIT News Desk On Oct 19, 2020

Company Hopeful that Increased Demand Is a Positive Barometer for a Global Economy Still Facing the Challenges of COVID-19

TransPerfect, the world’s largest provider of language and technology solutions for global business, announced third quarter billed revenues of $213 million. This represents an increase of approximately $25 million (13%) over the same period last year.

TransPerfect credits the 13% quarterly increase to pent-up demand for global communication services and technology. September was by far the largest contributor to the strong quarterly performance, with an increase of over 20% compared to September 2019.

President and CEO Phil Shawe stated, “While many sectors and certain divisions within TransPerfect are still affected by the impact of the COVID-19 pandemic, we believe our companywide Q3 results bode well for the remainder of 2020. Returning to double-digit growth, after a roughly flat Q2, is a testament to the dedication of our team members—I would like to express my sincere gratitude for their resiliency.”

“Of course, we would be nothing without our clients, and we thank them for continuing to entrust us at a time when global communications are more important than ever. We believe demand from projects that were delayed earlier in the year contributed to our third-quarter performance and is a positive indicator for the global economy in general.”

Through the first nine months of 2020, TransPerfect has posted approximately $602 million in billed revenue. Q3 performance helped drive the company’s year-to-date revenue growth rate back into double digits at 10.2%. While the company is now working to meet an increased client demand for services, the relatively slower Q2 allowed for a renewed focus on technology R&D. This time was used to launch several new software products aimed at helping clients adapt to remote working and the increasing need for online collaboration.

Shawe concluded, “TransPerfect is extremely fortunate to have a business model that facilitates remote working, which has allowed us to remain fully operational and provide uninterrupted services to our clients throughout the pandemic when they needed us most. With staff health and well-being our overarching priority, we look forward to the day when it is deemed safe for all of us to return to in-person office operations.”

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