Appen Ltd on Wednesday flagged a soft start to the year due to unfavourable economic conditions, although the Australian AI training provider expects to be profitable by the end of 2023 on the back of its cost-saving and diversification measures.Appen said revenue for the four months ended April 30 dropped about 21 per cent to $95.7 million from a year-ago period, while its gross profit fell 25 per cent to $35.8 million.
Appen, one of the world's largest AI training providers, announced on Wednesday a raft of cost-saving initiatives expected to deliver annualised cost savings of about $36 million in fiscal 2024.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Billionaire Sea CEO declares 5% raises in strong rebound signalSea Ltd.’s billionaire founder declared a 5% pay increase for most employees starting July.
Source: YahooSG - 🏆 3. / 71 Read more »
Chelsea ease Australian fears over Kerr injurySYDNEY : Chelsea manager Emma Hayes has moved to ease Australian fears over the fitness of Sam Kerr ahead of the Women's World Cup after the Matildas striker was withdrawn after half an hour of the London club's Women's Super League match on Sunday. Kerr is crucial to Australia's hopes of going deep in th
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Australian lawmakers meet US envoy to seek release of WikiLeaks founder Julian AssangeThe US embassy in Australia confirmed the meeting in a tweet, but did not share further details. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Matthews fends off Pedersen to win stage three of Giro d'ItaliaAustralian Michael Matthews timed his final effort to perfection to win a rain-affected stage three at the Giro d'Italia on Monday, following a 216-km ride from Vasto to Melfi.Matthews and Mads Pedersen were neck-and-neck until the final corner, but the Australian, who was set up perfectly by his Jayco-Al
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Matthews wins stage three of Giro d'Italia, Evenepoel extends leadAustralian Michael Matthews timed his final effort to perfection to win a rain-affected stage three at the Giro d'Italia on Monday, following a 216-km ride from Vasto to Melfi. Matthews and Mads Pedersen were neck-and-neck until the final corner, but the Australian, who was set up perfectly by his Jayco-Al
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Australia Q1 retail sales volumes fall for a second straight quarterSYDNEY : Australian retail sales volumes during the first quarter of 2023 fell for a second straight quarter, a sign that rising interest rates and the high cost of living are working to curb consumer spending.Data from the Australian Bureau of Statistics on Tuesday showed real retail sales fell 0.6 per c
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »