ZW Data Action Technologies Reports Second Quarter and First Half 2022 Unaudited Financial Results – KULR-TV
BEIJING, Aug. 19, 2022 (GLOBE NEWSWIRE) — ZW Data Action Technologies Inc. (Nasdaq: CNET) (the “Company”), an integrated online advertising, precision marketing, data analytics and other value-added services provider serving enterprise clients, today announced its unaudited financial results for the three and six months ended June 30, 2022.
Second Quarter 2022 Financial Results
Revenues
For the second quarter of 2022, revenues decreased by $7.61 million, or 52.3%, to $6.95 million from $14.55 million for the same period last year. The decrease in revenues was primarily attributable to the decrease in revenues from our Internet advertising and related services business segment, as a result of the repeated regional COVID-19 rebound in many provinces in China during the first half of fiscal 2022, which affected business of most of our small medium enterprises (“SMEs”) clients.
Cost of revenues
Total cost of revenues decreased by $7.74 million, or 52.4%, to $7.03 million for the second…
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source: https://news.oneseocompany.com/2022/08/19/zw-data-action-technologies-reports-second-quarter-and-first-half-2022-unaudited-financial-results-kulr-tv_2022081927862.html
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