Thunder recently announced its third-quarter earnings report as of September 30, 2018. The revenue increased slightly, the losses narrowed sharply, and broadband costs also fell sharply.

Specifically, Thunder’s third quarter revenue was 45.3 million US dollars , an increase of 1.1%, including member business income of 19.1 million US dollars, an increase of 13%.

Gross profit was 23.8 million US dollars, up 50% year-on-year; gross profit margin was 52.7%, up 17.2 percentage points year-on-year; net loss was 15.9 million US dollars , down 41% year-on-year.

During the quarter, Thunder’s revenue was $21.2 million, accounting for 46.8% of total revenue, and broadband costs were $10.2 million, accounting for 22.6% of total revenue, compared with 38.2% in the same period last year.

According to the financial report, the substantial improvement in profitability was mainly due to Thunder’s original shared computing business model , and breakthroughs in the underlying technology of the blockchain, including the Thunderbolt and Thunderbolt File System (TCFS).

Among them, Thunderbolt is the only main chain that can truly achieve the million-level TPS capability. It is also considered to be one of the most practical platforms in the blockchain 3.0 era; TCFS is built for blockchain applications and developers. Distributed file system is one of the necessary infrastructure for the development of blockchain technology.

Thunder expects fourth-quarter revenue of $40-45 million, with median values ​​down 48.4% year-on-year.

Zorain Zubair
Zorain is co-founder of TechLapse. Based in Pakistan, Zorain is currently studying Business Management and aims to achieve the title of Chartered Accountant. Zorain loves writing about various technology news. He can be reached at: [email protected]
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