Business StrategyHigh HQ costs are pushing back net income breakeven, with a significant portion to be re-allocated to the business segments.
Earnings1Q24 GAAP net loss of US$104m came in at 48%/79% of analyst and Bloomberg consensus FY24F loss estimates, wider than expected, dragged down by front-loaded share-based compensation and fair value loss on investments.
Financial PerformanceThe first quarter saw a higher net income loss due to increased interest costs and higher share-based compensation.