Business
Big tech regulatory crackdown hits Appen – The Australian Financial Review
The AI data services provider’s full-year results were hit by a weak second and third quarters, resulting in only a 12 per cent jump in revenue.
Appen provides the worlds largest tech companies with human-annotated data to train AI algorithms used in everything from search engines to voice assistants and image recognition technology.
The company missed analyst consensus estimates across the board in its full-year results, recording a 12 per cent jump in revenue to $599.9 million, compared with consensus estimates of $623.5 million in revenue.
Appens statutory net profit of $50.5 million, up 21 per cent on a year ago, also fell below expectations.
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