Best Inc (BEST) has released an update.
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BEST Inc. has reported a significant improvement in its fourth quarter and fiscal year 2023 financial results, with an overall revenue increase and a positive shift from a gross loss to a gross profit in comparison to 2022. Despite these gains, the company still experienced a net loss, although the loss margins have decreased year over year. The improvement is attributed to enhanced operational efficiency across various business lines, including Freight, Supply Chain Management, and Global operations, which saw substantial growth in revenue and parcel volumes.
For further insights into BEST stock, check out TipRanks’ Stock Analysis page.
