LM Funding America surges after reporting Q1 profit, revenue rise

Powercompute

16/05/2024 19:14

** Shares of cryptocurrency firm LM Funding America  LMFA.O 
rise as much as 52.5%, last up 33.5% at $3.15
    ** LMFA posts Q1 profit of 61 cents/shr vs a loss of
2.41/shr a year earlier
    ** Q1 revenue more than doubles to $4.7 mln, driven by
higher digital mining revenue
    ** LMFA mined 86.4 bitcoin in Q1 worth about $4.6 mln
    ** More than 460,000 shares have traded, 7.8 times their
25-day moving avg
    ** As of last close, LMFA shares were down 36.2% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))