Megaport (ASX:MP1) reports a $19 million net loss for the half yearCraig Foley
Cloud company Megaport (ASX:MP1) has reported a $19 million loss in the first six months of the financial year, 14.4 per cent more than its loss in the prior corresponding period despite a revenue increase of 70.3 per cent.
The company reported a loss of $12.7 million from direct network costs and $23.4 million from operating expenses.
Normalised EBITDA saw a loss of $10.3 million.
The company launched services in Japan in November 2019.
Shares in Megaport (ASX:MP1) are trading 3.89 per cent lower at $10.62.
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Source: Finance News Network