Agora rises as Q2 loss narrows

Agora

30/05/2023 23:18

** Shares of software services provider Agora Inc  API.O  up
9.4% at $3.13 in extended trading
    ** Reports narrower Q1 loss, helped by easing operating
expenses and lower personnel costs
    ** Posts Q1 net loss of $16.8 mln, or $0.16/ADS, vs. loss of
$26.9 mln, or $0.24/ADS, yr earlier
    ** However, reports Q1 rev of $36.4 mln, down from $38.6 mln
yr earlier 
    ** API also forecasts Q2 rev of $34 mln-$37 mln
    ** Stock down nearly 27% YTD

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))