Stock Track | MICROPORT Soars 14% on Narrowing Losses and Revenue Growth

Stock Track09-27

MICROPORT Scientific Corporation (HKG:00853), a leading medical device company, witnessed a significant surge in its stock price on Thursday, September 27, 2024, with shares soaring 14.29% amid positive financial results for the first half of the year.

According to the company's interim report released on Thursday, MICROPORT reported a 41% decrease in attributable loss for the six months ended June 30, 2024, dropping from $162.6 million in the same period last year to $96.8 million. The company's loss per share also improved, declining to $0.0563 from $0.0945 in the first half of 2023.

Contributing to the positive performance was MICROPORT's robust revenue growth, which soared 16% to $558.7 million compared to $482.6 million in the first half of 2023. The company attributed this increase to successful market penetration and revenue contributions from new products.

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