VS Media Holdings Limited announced its unaudited financial results for the first half of 2024, reporting a revenue of US$4.02 million. This represents a 14.10% increase compared to the same period in 2023, driven by growth in its Campaign-Based Marketing Services and the launch of its Social Commerce segment.
Despite the top-line growth, the company faced a net loss of $3,338,473 for the first half of 2024. This loss translates to US$1.15 loss per share, which is an increase from the US$0.81 loss per share reported in the first half of 2023.
The reported net loss is attributed to rising costs and operating expenses, which impacted the company's overall profitability. These financial trends highlight operational challenges despite the company's efforts to expand its revenue streams.
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