EUBG Q1 2023 net income rises 10% to $431K; revenue down 2.7% to $1.18M

ENTREPRENEUR UNIVERSE BRIGHT GROUP

2023-Q1 EPS reported $0.00 revenue$1,176,936

Revenue $1.18M, down 2.7% YoY; increased in RMB due to live streaming client, offset by FX.
Gross profit $1.06M, up 18.5% YoY as suspension of low-margin digital training raised margin to 90%.
Net income $431K, up 10.3% from $391K in Q1 2022.
Cost of revenue fell 63% to $114.6K due to absence of digital training direct costs.
Cash and equivalents $7.09M as of March 31, 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ENTREPRENEUR UNIVERSE BRIGHT GROUP reported first quarter ended March 31, 2023 results: revenue $1,176,936, net income $431,457.

Period: first quarter ended March 31, 2023
Revenue: $1,176,936
Net income: $431,457
Result: reported results

Exact text from the filing

First Quarter of 2023 Unaudited Financial Results Three Months Ended March 31, 2023 2022 $ % of Revenues $ % of Revenues Revenues $ 1,176,936 100 % $ 1,209,004 100 % Cost of revenues (114,554 ) (10 )% (312,479 ) (26 )% Gross profit 1,062,382 90 % 896,525 74 % Selling Expenses: (1,439 ) 0 % (16,595 ) (1 )% General and administrative expenses (423,502 ) (36 )% (311,288 ) (26 )% Total other income, net 86,289 7 % 101,822 8 % Income before income tax 723,730 61 % 670,464 55 % Income tax expense (292,273 ) (25 )% (279,291 ) (23 )% Net income $ 431,457 37 % $ 391,173 32 %

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Source: SEC EDGAR

accession 0001213900-23-039744

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