HG Network Information Services Company's third-quarter profit growth rate of 67.5% is impressive

Issuing time:2023-11-09 16:22

HG Network Information Services Company's third-quarter profit growth rate of 67.5% is impressive, with revenues far exceeding expectations.

On November 8th, the well-known advertising media platform HG Network Information Services Company (referred to as HG) released its unaudited financial results for the third quarter ending September 30, 2023. HG reported a net revenue of $32.63 million for the third quarter, with a gross profit of $24.58 million, marking a profit growth rate of 67.5%. As of September 2023, HG's global platform reported a daily average of 163 million active users, a 14% increase from the 142 million in September 2022.

Notably, HG's third-quarter revenues exceeded expectations, achieving an impressive $30 million, surpassing the forecasted figures from the previous quarter. Amidst a multitude of positive indicators, HG has garnered significant attention from investors. On the day of the earnings report release, there was a noticeable surge in HG's global traffic, and its advertising media business became a focal point for top-tier advertisers. This stellar performance underscores HG's robust and rising prominence on the world stage.

HG is a rapidly growing global internet advertising media platform, upholding a philosophy of fairness, freedom, and win-win cooperation. The company's growth is user-centric, data-driven, and focused on capturing the media users' escalating content demands with compelling products, thereby rapidly attracting target audiences. Additionally, the platform offers a diversity of content and broader opportunities for interaction, encouraging engagement and communication among users, and providing self-media authors and content creators with increased opportunities for advertising revenue.

HG views the business and revenue prospects for the next quarter with optimism, revising its fourth-quarter revenue forecast upwards by 26% to $46 million. This significant uplift in revenue expectations is backed by a resurgence in daily income and the number of active users, demonstrating HG's proactive innovation and execution strength. It also validates HG's mature capability to drive user growth through deep user insights, as well as the platform's overall robust execution abilities, core competitiveness, and unique value proposition.

In the next phase, HG will intensify its efforts to foster a global ecosystem for content creators and incubate new product lines, establishing a diverse incentive mechanism to drive greater user participation. They aim to create a barrier-free, open experience for content producers, thereby achieving precise and efficient outreach to target users and fulfilling conversion goals. Technologically, HG will leverage its proprietary advanced technologies, integrating AI, big data, and media operations to attract a multitude of advertisers' interest, positioning itself as a leader in the global industry.

The disclosure of the financial report has showcased HG's robust growth momentum, illuminating its impressive market performance to investors. Particularly, the enhanced profitability of its core content products and the central competitive strength in the content ecosystem are anticipated to pave the way for HG to explore new growth avenues and secure a long-term, upward trajectory of benefits.

Latest news: HG Network Information Services Company has established the HG Video Media Foundation in the United States.


HG Network Information Services Company


New York