UBS released a research report stating that total revenue in the first quarter of Wanguo Data rose 9.9% year-on-yearlivepokernearme.1% to 2.63 billion yuan, and adjusted EBITDA rose 4.7% to 1.18 billion yuan, both generally in line with market expectations and their full-year guidance. During the period, the group's total expenditures fell 27% year-on-year to 1.6 billion yuan, accounting for 25% of the full-year guidance. Among them, China and InternationallivepokernearmeCapital expenditures were 894 million and 703 million yuan respectively.
UBS said that Wanguo Data benefited from strong customer demand, with international revenue of 206 million yuan in the first quarter, a year-on-year increase of 580%. Management expects that its international business will receive more and larger customer orders in the next 12 months. The bank slightly increased the group's adjusted EBITDA forecast for fiscal year 2024 - 26 by 0 to 2%, reflecting expected better international business performance, and raised its target price from US$11.3 to US$12.4, reiterating its "Buy" rating.
