Worldwide NFT Inc. Reports Net Loss of $97.6 Million for FY2023
Annual Revenue of $20,127.3 Million
Worldwide NFT Inc. [WNFT], a leading company in the NFT market, has announced its financial results for the fiscal year ended June 30, 2023. The company recorded a net loss of $97.6 million for the year, compared to a net loss of $20.1 billion in the previous year. Despite the challenging market conditions, the company generated annual revenue of $20,127.3 million, indicating a significant improvement compared to the previous year.
Financial Performance
The company's financial performance for the year reflects a notable improvement compared to the previous year. The net loss decreased by approximately $19.9 billion, highlighting the effectiveness of the company's cost control measures. The reduction in operating expenses, specifically professional fees, contributed to the improvement in the company's financial performance. However, the company reported a gross profit of $0, indicating that the cost of revenues exceeded the generated revenue.
