NaaS Technology Inc. (NASDAQ:NAAS) reported its Q1 earnings results on Friday, with EPS coming in at ($0.47) and revenue at $36.16 million.

In the first quarter of 2023, NaaS' network handled a gross transaction value of RMB990.5 million (US$144.2 million), marking a 107% surge compared to the same period the previous year. The number of orders processed through NaaS' platform also witnessed a significant rise, reaching 44.4 million - a jump of 110% year over year.

For Q2/23, the company expects revenue of $500 million, compared to the Street estimate of $600 million.