AMTD IDEA Achieved 2.5 Times Digital Media & Entertainment Revenue In The First Half Of 2023
Portfolio Pulse from Benzinga Newsdesk
AMTD IDEA Group (NYSE: AMTD) reported a positive profit estimate for the first half of 2023, with total revenue expected to increase by over 6% year over year to more than $125 million. Revenue from digital media, entertainment, and other solution services is estimated to be at least 2.5 times higher than the previous year, exceeding $23 million, following the successful acquisition of L'Officiel Inc. SAS. The company anticipates profits to exceed $105 million. However, these figures are preliminary and subject to change upon finalization of financial results.
November 28, 2023 | 2:02 pm
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AMTD IDEA Group expects a significant increase in revenue and profit for H1 2023, with digital media and entertainment revenue growing 2.5 times due to the acquisition of L'Officiel Inc. SAS.
The positive profit estimate, especially the significant growth in the digital media and entertainment sector, is likely to be viewed favorably by investors. The acquisition of L'Officiel Inc. SAS appears to be contributing substantially to the company's growth. However, the company has cautioned that these figures are preliminary and may be subject to change, which introduces some uncertainty.
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