ChinaNet Online Holdings Inc. (CNET) Tuesday reported a decline in profit for the second quarter, due mainly to weak margins, despite a 45 percent growth in revenues.
The Beijing, China-based company's second-quarter net profit attributable to common stockholders was $895 thousand or $0.04 per share, compared to $2.84 million or $0.15 per share last year.
Total revenues for the quarter surged to $13.13 million from $9.08 million in the prior-year quarter.
For the quarter, gross margin plunged to 28.7 percent from 62.2 percent in the year-ago quarter.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.