Wetouch Technology Inc. Preannounces Revenue Of $39.71M For 2023 Vs $37.92M YoY
Portfolio Pulse from Benzinga Newsdesk
Wetouch Technology Inc. (NASDAQ:WETH) preannounced its 2023 revenue of $39.71M, up from $37.92M in 2022, despite a slight decrease in net income from $8.73M to $8.31M. The company attributes its revenue growth to strategic partnerships and anticipates further increases in revenue and net income in 2024.
April 01, 2024 | 2:27 pm
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Wetouch Technology Inc. announced a revenue increase to $39.71M for 2023 from $37.92M in 2022, with a slight decrease in net income. The company expects further growth in 2024.
The announcement of revenue growth and positive future outlook due to strategic partnerships is likely to be viewed positively by investors, potentially leading to a short-term increase in WETH's stock price. The slight decrease in net income is noted but seems to be offset by the overall positive financial performance and future expectations.
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