Troika Media (NASDAQ:TRKA) stock is rising higher on Tuesday after the release of its earnings report for the first quarter of 2023.
Revenue of $59.04 million is one of the biggest highlights from the latest Troika earnings report. That represents a massive 276% jump year-over-year (YOY) from $15.69 million. It also marks the fifth consecutive quarter of record revenue for the company.
Erica Naidrich, Chief Financial Officer of Troika, said the following about the company’s Q1 revenue:
“The revenue in our quarter ended March 31, 2023, is reflective of the seasonality in the business which is driven by our sector and revenue stream mix where we see lower customer acquisition investments (in relative terms) by our clients in Q1 and Q4.”
What the Future Holds for TRKA Stock
Things are looking good for Troika with its consecutive record revenues. That’s likely to continue in coming quarters based on comments from its CFO. Naidrich notes the company is preparing to go into its “strongest revenue generating quarters” and that this should benefit business.
This has investors excited with shares of TRKA stock gaining 30.8% as of Tuesday morning. That comes as some 20 million shares change hands. The company’s daily average trading volume is around 91 million shares.
There’s even more hot stock market news traders will want to know about below!
We have all of the latest stock market coverage investors need to know about on Tuesday! Among that is why Chinese stocks are on the move today, the most recent Tivic Health Systems (NASDAQ:TIVC) stock news and what has Eloxx Pharmaceuticals (NASDAQ:ELOX) stock falling today. You can catch up on all of these matters at the following links!
More Tuesday Stock Market News
- Chinese Stocks Alert: Why Are FUTU, TIGR Stocks Down Today?
- Why Is Tivic Health Systems (TIVC) Stock Down 28% Today?
- Why Is Eloxx Pharmaceuticals (ELOX) Stock Down 27% Today?
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On the date of publication, William White did not hold (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.
