OverActive Media Corp (TSE:OAM) has released an update.
OverActive Media Corp. has reported a significant increase in first quarter revenue for 2024, reaching $3.7 million, a 126% surge compared to the previous year. This growth was primarily driven by the strategic acquisitions of Movistar Riders and KOI, which contributed to the revenue for one month since their closure on March 1, 2024. However, the company also faced a 16% increase in operating costs due to these acquisitions, alongside a positive impact from accounting changes in league revenue recognition.
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