OneConnect Financial Technology (OCFT) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
OneConnect Financial Technology Co., Ltd. reported a decrease in revenue for Q1 2024 but saw improvements in gross margin and a reduction in net loss. The company’s focus on optimizing product and customer structures and overseas expansion contributed to a narrowed operating loss and net loss from continuing operations. Despite challenges from a key customer’s decision to cease using OneConnect’s cloud services, the company is committed to cost control and improved operational efficiency moving forward.
For further insights into OCFT stock, check out TipRanks’ Stock Analysis page.
