Summary by Moomoo AI
Television Broadcasting (TVB) announced its results for the year ended 31 December 2023, with revenue from its core TV-related business increasing by $1.14 billion to $28.37 billion, mainly driven by growth in its Hong Kong and Mainland China business. However, the Group's total revenue fell 7% to $33.23 billion, driven by a drop in revenue from its e-commerce division. Despite lower operating costs, EBITDA loss narrowed to $1.40 million. Shareholders accounted for a loss of $7.63 million and a loss of $1.74 per share. The Board of Directors does not recommend the distribution of dividends. Looking ahead, TVB remains cautiously optimistic about its performance in 2024 and will continue to optimize its cost structure.