Japan's HeartCore Q2 revenue rises on software services growth
Japan's HeartCore Q2 revenue rises on software services growth
Overview
Japan IPO consulting firm's Q2 revenue grew 71.6% yr/yr, driven by software development services
Company posted Q2 net loss, reversing net income from prior year
Company completed divestitures to focus on Go IPO consulting and financial services
Outlook
Company did not provide specific guidance for future quarters or the full year
Result Drivers
SOFTWARE SERVICES GROWTH - Revenue increase was primarily driven by higher software development services sales from HeartCore Luvina
GO IPO CONSULTING DECLINE - Go IPO consulting services revenue fell due to fewer customers and extensions of IPO timelines
HIGHER OUTSOURCING COSTS - Gross loss increased as company devoted more resources and incurred greater outsourcing expenses to enhance Go IPO consulting customer experience
Company press release: ID:nGNXwxSbP
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Loss |
| $2 mln |
|
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(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.)