Datasea skyrockets day after Q2 earnings report

Shares of micro-cap Datasea (DTSS), a technology company that develops and provides products utilizing intelligent acoustics including ultrasound, infrasound and directional sound, and provides 5G multimodal communication, have jumped $14.75, or 1,010%, to $16.21 in Wednesday morning trading the day after the company announced its financial results for the second quarter ended December 31, 2023. Yesterday, Datasea reported Q2 revenue of $11.35M, up from $131,459 a year ago, and losses of (72c) per share, compared to (80c) per share in the same quarter of last year. “We delivered strong performance in our second quarter of 2024 with revenue of approximately $11.3 million which brought our first half revenue of 2024 to $18.2 million. The increase in revenue during the quarter was mainly due to an increase of our 5G multimodal communication business in China where we signed a number of significant 5G multimodal communication service agreements. Our sales team vigorously and effectively promote our products where we focus on the needs of our customers and constantly optimize and improve our products and services. We believe that our technology has competitive advantages in its accuracy, convenience and technological capabilities. We launched our air sterilization products in China in 2023 across a number of distribution channels and we are currently developing our business operations in the US which include our pursuit of intellectual property rights and the establishment of an online platform. In the post-pandemic era, we believe that there is a global demand for effective solutions for healthy living environments in China, the US and globally. We are committed to providing cutting-edge acoustics technology imbedded with artificial intelligence across a wide range of products for both business and consumer applications,” said Datasea CEO Zhixin Liu.