WiMi Hologram (NASDAQ:WIMI) stock is on the rise Wednesday after the company released its earnings data for the first half of 2021.
Let’s jump into that earnings report below to see why investors are happy with WIMI stock today!
- WiMi Hologram starts off its earnings report with revenue of $79.9 million.
- This is a 202.2% increase in revenue when compared to the same period of the year prior.
- The company also saw gross profit for the period come in at $23.7 million.
- That’s a 189.8% jump year-over-year.
- To go along with that, net income for the first half of the year was $5 million.
- This is a 40.3% improvement over the company’s net income from the same time last year.
- WiMi Hologram also notes that its R&D expenses for the period were $13.3 million.
- That’s a 463.6% jump compared to the first half of 2020.
- WiMi Hologram is a holographic cloud comprehensive technical solution provider.
- Its focus is on professional fields including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, and more.
Shuo Shi, founder and CEO of WiMi Hologram, said this in the earnings report boosting the company’s stock higher today.
“We believe that the demand for 3D vision in holographic AR applications is growing rapidly, which reflects the huge market potential of holographic AR business. We started to develop smart chips and provide software solutions in September 2020. For the six months ended June 30, 2021, approximately 53.1% of our revenue came from semiconductor business.”
WIMI stock was up 22.4% as of Wednesday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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