Ucloudlink Group Inc: Falls on near 60% drop in Q3 revenue, outlook

Ucloudlink

16/11/2020 17:16

** Mobile data traffic sharing marketplace provider's shares
 UCL.O  down 3.4% at $9.34 
    ** Co's Q3 revenue drops 59.2% to $18 mln  urn:newsml:reuters.com:*:nGNXwzv3n
    ** Says revenue from international data connectivity
services decreased due to impact of global travel ban as a
result of the COVID-19 pandemic
    ** Co posts Q3 net loss of $9.7 mln vs income of $3.8 mln a
year ago
    ** Co forecasts Q4 total revenues between $17 mln-$19 mln,
representing a 64.6% to 68.3% decrease from a year earlier
    ** UCL shares are down 45.82% since their market debut on
June. 10

 (Reporting by Lasya Priya M in Bengaluru)
 ((LasyaPriya.M@thomsonreuters.com;))