TAOP Reports Financial Results for the Six Months Ended June 30, 2019
Taoping Inc. - Ordinary Shares (TAOP)
Company Research
Source: GlobeNewswire
SHENZHEN, China, Sept. 23, 2019 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP), a leading provider of internet-based smart display screens, and a new-media ecosystem that enable targeted advertising and online retail, today announced its unaudited financial results for the six months ended June 30, 2019. Revenue was $7.1 million for first six months of 2019, a decrease of $4.3 million, compared to $11.4 million for the same period last year. We have expanded our business to 153 cities, of which mostly are third-tiered and smaller cities, as of June 30, 2019, up from 51 cities as of June 30, 2018. The decrease in sales is largely due to slowdown of the new-media industry in China for the first half year of 2019 attributed to the unfavorable macro environment. The Company incurred a loss from operations of $2.2 million for first six months of 2019, compared to an income from operations of $0.8 million for the same period last year. The loss from operations in 2019 was m
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