Overview
SOS semi-annual net revenue rises 48.1% to $89.6 mln, driven by commodities trading
Co reports net loss of $14.2 mln, impacted by falling product prices
SOS reallocates resources, halts internal Bitcoin mining to expand hosting services
Result Drivers
COMMODITIES TRADING - Revenue growth driven by increased sales of natural rubber amid Chinese economic recovery
PRODUCT PRICE DECLINE - Negative gross margin due to falling prices of rubber and petroleum coke
STRATEGIC SHIFT - Company halts internal Bitcoin mining to focus on expanding third-party hosting services
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue | $89.60 mln | ||
H1 Net Income | -$14.20 mln | ||
H1 Gross Margin | -1.5% |
Press Release: ID:nPn2HbVG7a
(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.)