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TAOP Reports Fiscal Year 2020 Financial Results and Provides Guidance for FY2021
Taoping Inc.April 30, 2021 GMT
SHENZHEN, China, April 30, 2021 (GLOBE NEWSWIRE) Taoping Inc. (NASDAQ: TAOP), a provider of Internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced its financial results for the year ended December 31, 2020.
Revenue was $11.0 million for the year ended December 31, 2020, a decrease of $2.8 million, compared to $13.8 million for the year ended December 31, 2019. Revenue was $7.3 million for the second half year of 2020, an increase of $3.6 million or 96% from $3.7 million for the first half year of 2020, and an increase of $0.6 million or 9% from $6.7 million for the second half year of 2019. The decrease in revenue in 2020 from 2019 was primarily due to the negative impact of the COVID-19 pandemic