EXCLUSIVE: Perfect Corp's Q2 Revenue Jumps 9.6%, YouCam App Subscribers Hit Record High
Portfolio Pulse from Anusuya Lahiri
Perfect Corp (NYSE:PERF) reported a 9.6% increase in Q2 revenue to $13.9 million, driven by growth in AI- and AR-cloud solutions and mobile app subscriptions. Gross profit rose by 7.8% to $11.0 million, though gross margin slightly decreased due to higher third-party payment processing fees. Net income was $0.8 million, a significant improvement from a net loss of $0.2 million last year. The company saw a record high in YouCam app subscribers, growing by 18.3% year-over-year. Despite a slight decrease in key customers, the cumulative customer base expanded. PERF shares closed 1.85% higher at $2.20.
July 24, 2024 | 10:15 am
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Perfect Corp reported strong Q2 results with a 9.6% increase in revenue and a significant improvement in net income. The YouCam app saw record subscriber growth, and the company reiterated its positive revenue growth outlook for 2024. Shares closed 1.85% higher.
The strong financial performance, particularly the significant improvement in net income and record growth in YouCam app subscribers, is likely to positively impact investor sentiment. The company's positive revenue growth outlook for 2024 further supports a bullish short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100