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Zedge, Inc. (NYSE American: ZDGE), a provider of digital publishing services, has reported lower net income for the second quarter of 2023, despite a slight increase in revenue.
Total revenue increased by 1% annually to $6.98 million in the second quarter of 2023. At 32.2 million, the number of monthly active users decreased by 11% in three months.
The company reported comprehensive net income of $1.76 million or $0.11 per share for the January quarter, on an adjusted basis, compared to $2.1 million or $0.16 per share in the year-ago period.
Read management/analyst commentary on monthly results
“The second quarter was a mixed bag as we navigated geopolitical, economic, and industry-specific challenges, and we were not immune to the forces affecting games and other ad-based business models,” said Jonathan Reich, CEO of Zedge.
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