Anghami Inc Reports 97% Revenue Growth Driven by OSN+ Integration
Anghami Inc. experienced a significant price increase of 23.89%, crossing above the 5-day SMA, amid positive market conditions with the Nasdaq-100 up 0.47% and the S&P 500 up 0.31%.
The surge is attributed to Anghami's impressive earnings report, which revealed a 97% year-over-year revenue growth to $48.4 million, primarily driven by the integration with OSN+ and a substantial increase in subscription income. This strong performance highlights the company's market potential in the MENA region and reflects successful user acquisition strategies.
This remarkable growth not only strengthens Anghami's competitive position in the streaming industry but also opens new investment opportunities, as the company continues to expand its user base and enhance its market attractiveness.
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