Pop Culture Group Co., Ltd (NASDAQ:CPOP) shares are trading higher Thursday after the company released an interim financial report which showed the second half of 2023 showed an increase in overall operational performance.
The Details:
For the six months ended Dec. 31, 2023, the company reported consolidated revenues of approximately $24 million, representing an increase of $12.75 million from the same period last year, reflecting 113% year-on-year growth.
Pop Culture Group's consolidated gross profit for the second half of 2023 increased from a deficit of $2.34 million to gross profits of $1.78 million.
The company expects business expansion and growth will be driven by business operations in certain film and television projects, including “The Legend of the Condor Heroes: The Legend of Qiao Feng” and “The Legend of the Swordsman”, as well as the staging of “Superstar Concert” series as scheduled.
The company anticipates comprehensive development in both entertainment and street dance sectors throughout fiscal year 2024.
“In 2024, street dance joined the Olympic Games for the first time, which stands as the pivotal year for our company’s growth,”said CEO Huang Zhuoqin.
Related News: What's Going On With Affirm Stock After Earnings?
How To Buy CPOP Stock:
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Pop Culture Group's case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
CPOP Price Action: According to Benzinga Pro, Pop Culture Group shares are up 78.2% at $3.03 at the time of publication Thursday.
Image: Pete Linforth from Pixabay
Comments