Cineverse Reports Third Quarter Fiscal Year 2024 Results
LOS ANGELES, Feb. 14, 2024 /PRNewswire/ -- Cineverse Corp. ("Cineverse" or the "Company") (NASDAQ: CNVS), a global streaming technology and entertainment company, today announced its financial results for the fiscal third quarter ended December 31, 2023 ("Q3 FY 2024").
- Selling, General, and Administrative Expenses Decreased By $2.7 Million, or 30%
LOS ANGELES, Feb. 14, 2024 /PRNewswire/ -- Cineverse Corp. ("Cineverse" or the "Company") (NASDAQ: CNVS), a global streaming technology and entertainment company, today announced its financial results for the fiscal third quarter ended December 31, 2023 ("Q3 FY 2024"). - Q3 FY 2024 Highlights (all comparisons are to the prior year fiscal quarter ended December 31, 2022):
Similar to the reported results for last quarter, the Company's initiatives to reduce operating costs, optimize our streaming channel portfolio and increase margins continued to have a very positive impact on our financial results. - In FY 2024, the Company launched Cineverse Services India ("Cineverse Services"), a new business unit that expands upon the Company's successful India operations to consolidate Cineverse's support operations at vastly reduced costs.
- ET (Wednesday, February 14, 2024), during which management will discuss the results of the fiscal third quarter ended December 31, 2023.