The company’s profit margin stood at 41.2% in 1HFY2024. It also recorded a 19.3% y-o-y decrease in operating expenses from US$50 million to US$40.3 million.
17LIVE, Singapore Exchange (SGX:S68
) ’s (SGX) first and only entity to go through a despac transaction has reversed into earnings of US$1.9 million ($2.51 million) for 1HFY2024 ended June, an increase of US$120.1 million from US$118.2 million loss in the previous corresponding period.
In 1HFY2024, the company posted an operating revenue of US$101.1 million, down 33% y-o-y primarily from Liver live streaming (down 37% y-o-y) as well as unfavourable foreign currency movement. Its revenue from V-Liver live streaming, however, more than tripled to US$4.8 million 1HFY2024 from US$1.5 million in 1HFY2023.
