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Anghami Inc. ( (ANGH) ) has provided an update.
Anghami Inc. reported a significant increase in revenue for the first half of 2024, reaching approximately $29.8 million, compared to $18.9 million in the same period of 2023. Despite this increase, the company experienced a substantial comprehensive loss of $27.7 million primarily due to higher costs of revenue and increased selling and marketing expenses. This financial performance may impact the company’s strategic position in the competitive music streaming market in the MENA region, affecting stakeholders’ confidence and future investment opportunities.
More about Anghami Inc.
Anghami Inc. operates in the digital music streaming industry, offering a platform for music streaming services primarily in the Middle East and North Africa (MENA) region. The company focuses on providing a wide selection of Arabic and international music content to its users.
YTD Price Performance: -24.71%
Average Trading Volume: 88,016
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $23.27M
For a thorough assessment of ANGH stock, go to TipRanks’ Stock Analysis page.