Agora (API) has released an update.
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Agora, Inc. reported modest revenue growth in Q2 2024 amidst a tough economic climate, with a slight increase to $34.2 million, up from $34.0 million the previous year, and a reduced net loss of $9.2 million compared to last year’s $45.3 million. The company saw a rise in active customers for Agora by 7.2% while Shengwang’s customer base fell by 5.5%, and they are shifting focus towards real-time engagement and conversational AI applications. Agora also continued its share repurchase program, buying back 55% of the allocated $200 million as it heads into a future with planned discontinuation of low-profit products.
For further insights into API stock, check out TipRanks’ Stock Analysis page.
