DPW - Ault Global shares surges premarket on strong preliminary Q2 results
Ault Global (DPW) shares jumps 24% in pre-market after releasing preliminary results for its Q2 2021. The company said that its revenue for the Q2 of 2021 rose 1048% Y/Y to ~$62M .Revenue from lending and investing activities of ~$53M, due to the allocation of capital to the Company’s wholly owned subsidiary, Digital Power Lending and includes an ~$40M gain from the Company’s investment in Alzamend Neuro.Revenue from cryptocurrency mining of ~$0.3M as the Company resumed cryptocurrency mining operations with ~1,000 miners during March 2021.Income before taxes of ~$44 million for the quarter, which represents the second sequential quarter of profitability vs. $1.4M loss a year ago.The Company’s Founder and Executive Chairman, Milton “Todd” Ault, III says, "Our preliminary financial results in the second quarter of 2021 reflect strength of our lending and trading activities at DP Lending, our financial services subsidiary. We believe our current lending and investing pipeline is strong and if the market conditions for investing in
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Ault Global shares surges premarket on strong preliminary Q2 results