Many factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including the possibility that the positive trends as described herein may not continue, and the previously announced contemplated transactions between Borqs and Sasken Technologies, Inc.may not be consummated as described, or at all, and that the positive benefits of the transactions, stock buy-back and the future investment possibilities may not transpire as described or at all.
H1 2023 Revenues ($K)16,77314,992+ 11.9%Gross Margin20.2%19.4%Up 0.8%Operating expenses ($K)7,08211,996- 41.0%Net income (loss) from operations15,023-28,801n/a For the six months ended June 30, 2024, Borqs reported total net revenues of US$16.77 million, reflecting an increase from US$14.99 million in the same period of 2023, an increase of 11.9%, driven by strong performances in both software and hardware segments.
As a result of these strategic initiatives and the completed sale of the Company’s interests in the solar subsidiary, Borqs recorded a net income of US$15.02 million from operations for the first half of 2024, a remarkable turnaround from a net loss of US$28.80 million in the same period of the previous year.
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