Summary by Futu AI
Applied Optoelectronics, Inc., a leading provider of fiber-optic network products, reported its financial results for the second quarter ended June 30, 2024, on August 6, 2024. The company announced a GAAP revenue of $43.3 million, a slight increase from $41.6 million in the same quarter of the previous year. The GAAP gross margin also improved to 22.1% from 19.0% in the second quarter of 2023. Despite these gains, the company experienced a GAAP net loss of $26.1 million, or $0.66 per basic share, which was larger than the net loss of $16.9 million, or $0.57 per basic share, in the previous year's quarter. The non-GAAP net loss was reported at $10.9 million, or $0.28 per basic share. Dr. Thompson Lin, the company's CEO, expressed optimism for the second half of the...Show More