BEST (BEST) has released an update.
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BEST Inc. has reported a positive shift in its financial performance for Q1 2024, with revenue rising to $269 million, marking a 13.2% year-over-year increase, largely due to the success of its Freight and Global services. Gross profit turned around from a loss to $7.6 million, and net loss from continuing operations showed a 33% improvement. Particularly notable was the robust growth in e-commerce related revenues, with BEST Global’s revenue surging by 42.6% alongside significant volume increases in Southeast Asia.
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