For FY16, Appen Ltd.’s Improved earnings outlook

Improved earnings outlook:For FY16, Appen Ltd.’s total revenue grew by 34% yoy to $111.0 million, while EBITDA grew by 24% yoy to $17.2 million. In turn, NPAT also surged by 26% yoy to $10.5 million, led by the increase in earnings from the accelerating demand for machine learning-based product development. Further, artificial Intelligence and machine learning rely on very large volumes and a wide variety of high quality data for training and improvement. Notably, significant growth of these technologies worldwide is powering a strong surge in the need for data, and the company’s track record, skills and capabilities strongly positioned it to benefit from the rising demand in the future. APX has improved FY2017 earning forecast as the company’s EBITDA for FY2017 is estimated to be more than 40% to 50% over FY16, driven by the recent receipt of purchase orders from existing customers, a sharp increase in monthly revenues from existing and new customers, and better overall margins, largely from new projects.

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