Anghami Inc. (NASDAQ:ANGH) shares jumped 49.8% in after-hours trading to $3.48 on Tuesday, following the release of the company’s six-month results.
Check out the current price of ANGH stock here.
Revenue Doubles Year-Over-Year
The United Arab Emirates-based streaming platform for the Middle East and North Africa reported 97% year-over-year revenue growth to $48.4 million for the six months ended June 30, driven by OSN+ integration and expanding subscription income. Subscription income rose to $43 million following the OSN+ integration. Paid subscribers doubled to 3.54 million, with total registered users exceeding 120 million.
Earlier in the year, Warner Bros. Discovery (NASDAQ:WBD), a major U.S. media and entertainment company, invested $57 million in OSN Streaming Ltd., the majority owner of Anghami, …