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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.