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TVB narrows net loss by 65% in H1 2024
The company reduced its net loss by $264m.
TVB reported that its net loss has narrowed by 65% year-on-year (YoY) to $143m in H1 2024 from $407m a year ago.
Revenue from core TV-related businesses increased 12% YoY to $1.5b from $1.3b in H1 2023, driven by a 20% revenue growth from its Hong Kong TV Broadcasting segment and a 22% revenue growth from its mainland China operations segment.
This was partially offset by the decline arising from the downsizing of its e-commerce business segment, which caused total revenue for the period to slip 3% to $1.51b from $1.56b in H1 2023.
Loss per share was $0.33, down from $0.93 a year ago.
The board did not recommend the payment of an interim dividend for the period.
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