Why Starbox Shares Are Trading Higher Today?

Starbox STBX shares are trading higher after the company reported FY22 EPS and sales results were higher year over year.

Total revenue was $7.2 million in fiscal year 2022, an increase of 127.2% from $3.2 million in fiscal year 2021.
Income from operations was $5.0 million in fiscal year 2022, an increase of 131.3% from $2.1 million in fiscal year 2021.
Net income was $3.6 million in fiscal year 2022, an increase of 148.8% from $1.4 million in fiscal year 2021.

Mr. Lee Choon Wooi, Chief Executive Officer and Chairman of the Board of Directors of Starbox Group, commented, "We saw growth in all three business pillars within our ecosystem, namely our cash rebates, digital advertising, and payment solutions, during the fiscal year 2022. Our revenue grew by 127.2% in the fiscal year 2022 compared to the fiscal year 2021.”

Starbox is building a cash rebate, digital advertising, and payment solution business ecosystem targeting micro, small, and medium enterprises that lack the bandwidth to develop an in-house data management system for effective marketing.

STBX Price Action: Starbox has a 52-week high of $46.21 and a 52-week low of $1.37.

Starbox shares are down 6.10% at $3.21 at time of publication, according to Benzinga Pro.