FRMO Corporation Reports Earnings Results for the Second Quarter and Six Months Ended November 30, 2022
January 12, 2023 at 08:17 pm
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FRMO Corporation reported earnings results for the second quarter and six months ended November 30, 2022. For the second quarter, the company reported revenue was USD 106.88 million compared to negative revenue of USD 11.83 million a year ago. Net income was USD 34.87 million compared to net loss of USD 0.35 million a year ago. Diluted earnings per share from continuing operations was USD 0.79 compared to diluted loss per share from continuing operations of USD 0.01 a year ago.
For the six months, revenue was USD 141.12 million compared to negative revenue of USD 16 million a year ago. Net income was USD 42.35 million compared to USD 0.61 million a year ago. Diluted earnings per share from continuing operations was USD 0.96 compared to USD 0.01 a year ago.
FRMO Corporation is an intellectual capital firm, which identifies and manages investment strategies and business opportunities. The Company is focused on making strategic investments in public and private companies. The Company's investments in unconsolidated subsidiaries include Miami International Holdings, Inc., CNSX Markets, Inc., American Financial Exchange, LLC and Horizon Kinetics, LLC (Horizon Kinetics). Horizon Kinetics is an investment advisory and independent research firm, with research activities serving primarily institutional investors. Horizon Kinetics provides in-depth analysis of information-poor, under-researched companies and strategies to identify complex or overlooked situations that can offer an advantage to the investor. The Company's investments in limited partnerships include Horizon Multi-Strategy Fund, LP, CDK Partners, LP, Polestar Fund, LP, Multi-Disciplinary Fund, LP, Kinetics Institutional Partners, LP and others.
FRMO CORPORATION 