Pacific Ventures Group, Inc. Reports Net Loss of $2.2 Million for the Quarter
Quarterly Revenue Decreases to $7.4 Million
By USInMinutes
Published - Oct 07, 2023, 02:44 PM ET
Last Updated - Oct 07, 2023, 02:45 PM EDT
Pacific Ventures Group, Inc. [PACV] released its financial report for the quarter ended June 30, 2023, showcasing a net loss of $2.2 million. The company's revenue for the quarter decreased to $7.4 million compared to $10.5 million in the same period last year.
Financial Performance
Despite the decline in revenue, Pacific Ventures Group managed to maintain a gross profit of $878,779, albeit lower than the $1.5 million recorded in the previous year. The company's operating expenses came in at $1.4 million, resulting in an operating loss of $574,000.
