Why are Megaport’s (ASX:MP1) shares on trading halt?

1 min read | October 20, 2022 12:04 PM AEDT | By Sonal Goyal

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Why are Megaport’s (ASX:MP1) shares on trading halt? — Image source: © Josepalbert13 | Megapixl.com

Recent announcements by Megaport

On 19 October 2022, Megaport shared its September 2022 quarterly report (1QFY23), which said:

The Monthly Recurring Revenue (MRR) during the quarter grew by 3% on quarter-on-quarter (QoQ) basis to US$7.8 million.
Excluding the FX (forex) impact, underlying MRR increased by 6% to US$8 million.
The total revenue increased by 5% to US$23 million in comparison to the previous quarter.
During the quarter, Megaport reported EBITDA profit for a second consecutive period.
The company ended the quarter with a cash position of US$44.9 million.

Management’s commentary

Vincent English, chief executive officer (CEO), Megaport, said:

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