Taoping Says May Contract Revenue Surged 52% YoY To $4.1M, Led By Continued AI-based Business Growth
Portfolio Pulse from Benzinga Newsdesk
Taoping Inc. (NASDAQ: TAOP) reported a 52% year-over-year increase in contract revenue for May 2024, reaching $4.1 million, driven by growth in its AI-based business. This also marks a 43% increase over April 2024.
June 10, 2024 | 12:33 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Taoping Inc. reported a significant 52% year-over-year increase in contract revenue for May 2024, reaching $4.1 million, driven by its AI-based business growth. This also represents a 43% increase over April 2024.
The significant year-over-year and month-over-month increases in contract revenue indicate strong business performance and growth in Taoping's AI-based services. This positive financial news is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100