SurgePays rises on strong Q1 results

Surgepays

12/05/2023 11:14

** Shares of telecom company SurgePays Inc  SURG.O  up 15.6%
at $5.10 premarket
    ** SURG reports Q1 revenue of $34.8 mln, up ~64% and Q1
profit of $4.5 mln versus loss of $1.2 mln last year
    ** Says Q1 revenue rise primarily from revenues related to
providing mobile broadband and wireless service to low-income
subscribers through its Affordable Connectivity Program 
    ** 2023 outlook remains unchanged
    ** Up to last close, stock had fallen 32.77% so far this
year

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))