Summary by Moomoo AI
Universal Data Holdings Limited announced unaudited financial results for the fourth quarter and full year ended December 31, 2023. Fourth quarter net income increased 6.3% year-on-year to RMB2,556.5 million, but net loss widened to RMB3,164.6 million. Year-over-year net income grew by 6.8% to RMB9,956.5 million and net loss was RMB4,285.4 million. The Company's Adjusted EBITDA grew 8.8% year-over-year to RMB4,624.1 million. Operating area and billed area both increased by 11.0% and 13.0% year-over-year. The company's chairman, Mr. Wong Wai, said that the company has made steady progress in meeting its objectives in 2023 and has raised equity in its international business. Chief Financial Officer Dan Newman noted that revenue growth was in line with the company's guidance, while Adjusted EBITDA exceeded the upper limit of the guidance range. The Company will hold a conference call to discuss financial results on March 26, 2024.