Datasea Pre-Announces Estimated Revenue Of $12.5M For April 2024 Supporting Its Prior Revenue Guidance Of $86M For FY24
Portfolio Pulse from Benzinga Newsdesk
Datasea Inc. (DTSS) pre-announced an estimated revenue of $12.5M for April 2024, supporting its FY24 revenue guidance of $86M, indicating a significant year-over-year increase. This growth is attributed to its 5G multimodal communication business in China. The company also highlighted its advancements in AI and intelligent acoustics technology, including a partnership with iPower Inc. (IPW) to distribute its acoustic products in the U.S. market. Datasea's financial results are preliminary and subject to adjustments.
May 06, 2024 | 2:05 pm
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POSITIVE IMPACT
Datasea's estimated April 2024 revenue of $12.5M and FY24 guidance of $86M reflect its strong position in China's 5G market and potential growth from its AI and intelligent acoustics technologies.
The positive revenue forecast and strategic advancements in 5G and AI technologies suggest a strong growth trajectory for Datasea, likely boosting investor confidence and potentially leading to a short-term stock price increase.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
iPower Inc.'s partnership with Datasea to distribute acoustic products in the U.S. could enhance its market presence and revenue streams.
The partnership with Datasea for distributing acoustic products in the U.S. market represents a strategic move for iPower, potentially opening new revenue avenues and enhancing its market footprint, which could positively impact its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 70