This morning it could be a good idea for investors to consider taking a look into the Hammer Fiber Optics Holdings Corp (OTCMKTS:HMMR) after the company announced its financial results for the fiscal year ended on July 31, 2022, and the first fiscal quarter ended on October 31, 2022.
Hammer Fiber Optics Holdings Corp Announces Fiscal Year Ended July 31 2022 and First Quarter Financial Results
In light of that announcement from the company yesterday, it might be a good time to take a look at some of the highlights. The total revenues generated by the company during the fiscal year stood at $2,602,115, which reflected a year-on-year rise of as much as 18.32%. The rise in revenues had primarily been driven by the strong performance of Hammer Fiber Optics in the OTT (over-the-top) business segment.
On the other hand, the revenues generated by the company in the first fiscal quarter that ended on October 31, 2022, came in at $799,699 and that reflected a year-on-year rise of as much as 27.27%. That being said, it should be noted that in the fiscal year, the losses suffered by Hammer Fiber Optics actually broadened to $, and that was mainly due to the expenses related to the launch of the fintech business.