TAOP - Taoping Reports Record 1Q 2024 Contract Revenue with 53% Increase Compared to 1Q 2023 | Benzinga
SHENZHEN, China, April 9, 2024 /PRNewswire/ -- Taoping Inc. (NASDAQ:TAOP, the ", Company", )), a developer of innovative smart cloud platform services and solutions, new media and artificial intelligence solutions, today reported a total contract revenue value of RMB 60.1 million (approximately USD $8.3 million) for the first quarter of 2024, representing an increase of 53% compared to the first quarter of 2023. The record growth continues to be driven by customer demand for the Company's cutting-edge Smart City solutions, AI-related products and innovative off-grid wastewater treatment solutions.
The Company reiterated its expectation for sustained growth momentum throughout the year due to its previously implemented growth strategy. This growth is projected to be driven by increased demand led by its city partner ecosystem, its diverse range of AI products and innovative Smart City solutions, which are empowered by the Company's advanced Cloud Nest AI system and intelligent Cloud ...