Agora Swings to Q3 Earnings, Revenue Rise; Q4 Revenue Outlook Set

MT Newswires Live11-20

Agora (API) reported a Q3 net income of $0.03 per American depositary share, swinging from a loss of $0.23 a year earlier.

Revenue for the quarter ended Sept. 30 was $35.4 million, up from $31.6 million a year earlier.

The company said it expects Q4 revenue between $37 million and $38 million.

Comparable analysts' estimates were not available.

During Q3, the company had bought back about 150.1 million class A shares (around 37.5 million ADSs) for roughly $132.1 million, using 66% of its $200 million share repurchase program.

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