💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

ChinaNet Online boosts revenues, narrows loss in Q3

Published 11/15/2016, 08:52 AM
ChinaNet Online boosts revenues, narrows loss in Q3
CNET
-
  • ChinaNet Online (NASDAQ:CNET) has logged Q3 earnings that saw improvement in gross profit and narrower operating and net losses.
  • Net loss came to $1.5M vs. a loss of $2.1M in the year-ago quarter. Gross profit improved 39.8% to $2M.
  • Despite a company pivot into higher margin businesses than TV advertising, gross margin fell to 17% from 17.1% due to an increase in lower-margin revenues from search engine marketing services.
  • Cash outflows from operations for the nine months were $1.9M; the company has $1.2M in cash and equivalents, working capital of $9.8M and a current ration of 2.3 to 1.
  • Conference call to come tomorrow at 8:30 a.m. ET.
  • Press Release

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.