Reported Earlier, Pop Culture Reported Revenue of $24M for Six Months Ended December 31, 2023 Vs $12.75M YoY
Portfolio Pulse from Benzinga Newsdesk
Pop Culture Group Co., Ltd. (CPOP) reported a significant revenue increase to $24M for the six months ended December 31, 2023, up from $12.75M YoY. This 113% growth is attributed to the company's new digital collection sales via its WeChat account. Additionally, the company turned a previous gross deficit of $2.34M into a gross profit of $1.78M in the same period.
May 09, 2024 | 9:12 am
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Pop Culture Group Co., Ltd. (CPOP) reported a 113% YoY revenue increase to $24M and a gross profit of $1.78M for the six months ended December 31, 2023.
The substantial year-on-year revenue growth and the successful transition from a gross deficit to a gross profit indicate a strong operational performance and successful implementation of new digital sales strategies. This positive financial turnaround is likely to instill investor confidence and could lead to a short-term positive impact on CPOP's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100