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An announcement from Megaport Ltd. ( (AU:MP1) ) is now available.
Megaport Limited reported a record performance for the half-year ended December 31, 2024, with significant increases in annual recurring revenue, total revenue, and net cash flow. The company’s strategic investments in product innovation and global network expansion have contributed to its growth, with notable achievements including the deployment of a 400G backbone, the launch of a compute platform, and the expansion into new markets such as Brazil and Italy. These developments position Megaport as a leading player in the NaaS connectivity platform space, enhancing its market presence and offering new revenue opportunities for stakeholders.
More about Megaport Ltd.
Megaport Limited operates in the technology and telecommunications industry, providing Network as a Service (NaaS) solutions. The company focuses on enabling global connectivity through its extensive network, offering services such as cloud on-ramps, data center interconnection, and internet exchange services. Megaport’s market focus includes the Americas, Europe, and Asia-Pacific regions, with a strong emphasis on innovation and expanding its network capabilities.
YTD Price Performance: 14.34%
Average Trading Volume: 691
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $956.6M
Find detailed analytics on MP1 stock on TipRanks’ Stock Analysis page.
