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Creative Technology expects 2HFY2022 revenue to be below target at US$27 mil

·1-min read

The company had previously announced that it expects to report an operating loss during the same period.

Creative Technology is expecting its revenue for the 2HFY2022 ended June to come in below its target. The company is estimating that revenue for the second-half of the year will be around US$27 million ($37.6 million).

The company had previously announced that it expects to report an operating loss during the same period.

According to the company, its revenue was negatively impacted by the “uncertain economic conditions” due to the ongoing global events. These include the pandemic-related lockdowns in China, the Russo-Ukraine war and related sanctions, as well as inflation rates.

“These have adversely affected the business environment in many markets for the group’s products,” reads the statement released by Creative Technology.

The company will release its results for the FY2022 in August.

Shares in Creative Technology closed 5 cents lower or 2.34% down at $2.09 on July 1.

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