FRMO Corporation Reports Earnings Results for the Second Quarter and Six Months Ended November 30, 2023
January 11, 2024 at 09:21 pm EST
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FRMO Corporation reported earnings results for the second quarter and six months ended November 30, 2023. For the second quarter, the company reported negative revenue was USD 10.54 million compared to revenue of USD 106.88 million a year ago. Net income was USD 4.7 million compared to USD 34.87 million a year ago. Diluted earnings per share from continuing operations was USD 0.11 compared to USD 0.79 a year ago.
For the six months, revenue was USD 78.59 million compared to USD 141.12 million a year ago. Net income was USD 37.03 million compared to USD 42.35 million a year ago. Diluted earnings per share from continuing operations was USD 0.84 compared to USD 0.96 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 
