Perfect Corp Q3 Earnings: Revenue Growth Fueled by AI, AR Solutions & Record YouCam Subscribers

On Tuesday, Perfect Corp (NYSE:PERF) announced third-quarter earnings for the quarter ended September 30, 2024.  

Total revenue was $16.1 million for the third quarter, marking an increase of 10.8% year-on-year, missing the analyst consensus estimate of $16.8 million. The increase was primarily due to growth in the revenue of AI- and AR-cloud solutions and mobile app subscriptions.

Also Read: EXCLUSIVE: Perfect Corp's Q2 Revenue Jumps 9.6%, YouCam App Subscribers Hit Record High

AI—and AR—cloud solutions and subscription revenue was $13.4 million, up 17.9% year over year. The double-digit growth was driven by robust demand from brand customers for the Company's online virtual product try-on solutions, healthy momentum in the growth of YouCam mobile beauty app subscriptions, and consumer preference for Generative AI technologies and AI ...