Singapore's FingerMotion Q1 revenue plunges on lower telecom segment sales

Overview

• Singapore mobile services firm's fiscal Q1 revenue fell 92% yr/yr on lower telecom segment sales

• Gross profit rose 37% yr/yr as revenue mix and cost discipline improved

• Loss per share narrowed to $0.03 from $0.04 a year earlier

Outlook

• FingerMotion did not provide specific financial guidance for the current or upcoming periods in the press release

Result Drivers

• TELECOM REVENUE DROP - Q1 revenue decline was mainly due to a 94% fall in Telecommunications Products Services sales

• IMPROVED REVENUE MIX - Gross profit and margin rose as lower-margin transaction revenue fell, leading to a more favorable revenue mix

• COST DISCIPLINE - Company cited better cost discipline as a factor in improved gross profit and margin

Company press release: ID:nNFC3xYjgt

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)