SYLA Reports First-Half 2023 Financial And Operational Results; 1H EPS $(5.77) Vs $(2.50) YoY; Revenue $64.5M Vs $56.1M YoY
Portfolio Pulse from Benzinga Newsdesk
SYLA Technologies reported its first-half 2023 financial results, showing an increase in revenue to $64.5M from $56.1M YoY, and an EPS of $(5.77) compared to $(2.50) YoY. The revenue increase was attributed to an increase in land sales and data center container sales. However, this was offset by a decrease in real estate sales. Gross profit and total operating expenses also increased. Net income attributable to SYLA was $1.7M, compared to $0.7M YoY. As of June 30, 2023, SYLA had $24.7M in cash and cash equivalents.
October 17, 2023 | 12:39 pm
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SYLA Technologies reported increased revenues and net income for 1H 2023, but also a higher EPS loss. This mixed result could lead to uncertain market reactions.
SYLA's increased revenues and net income are positive indicators, but the higher EPS loss could be a concern for investors. The impact on the stock price will depend on how the market weighs these factors.
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