The Appen Ltd (ASX: APX) share price rose 5% today, making it one of the top performers in the ASX200.
Appen provides data for machine learning and artificial intelligence. Basically, it provides and improves data for the development of artificial intelligence and machine learning products. With more than 20 years of experience in over 130 countries, Appen has firmly established itself as a global leader in this space.
Appen Share Price Jumps 5%
The machine learning business was a top performer today. The business has done very well over the past year, its share price has increased by 160%.
Some of the returns have been driven by investor sentiment, with people willing to pay more for today’s earnings. However, the company has also been driving profit higher with impressive performances.
In its recent December 2018 result the ASX technology business reported revenue grew by 119% to $364.3 million, statutory EBITDA increased by 206% to $68.1 million (click here to learn what EBITDA means) and statutory net profit increased by 192% to $41.7 million.
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.