What caused FNGR's Q3 2024 earnings to fall short of forecasts?

FingerMotion's Q3 2024 earnings fell short of forecasts due to several key factors:

1. **Revenue Decline in Key Business Segments**: The company experienced a 9% drop in revenue, primarily due to a significant decline in the SMS & MMS business revenue, which fell by 42% compared to the previous quarter. This decline was partially offset by strong growth in the Telecommunications Products & Services business and Big Data segment.
2. **Increased Costs**: The cost of revenue for the quarter increased to $8,090,509, up from $5,502,151 in the previous year, mainly due to increased costs associated with Telecommunication Products & Services. This increase in costs adversely affected the gross profit, which decreased to $443,570 from $637,995.
3. **General and Administrative Expenses**: There was a decrease in general expenses, which reduced from $2,256,185 to $1,579,619. However, the company saw an increase in marketing and share compensation costs, which could have had an impact on the overall profitability of the quarter.
4. **Short Interest and Market Sentiment**: The company faced a challenging market environment with increased short interest, indicating negative sentiment among investors. This could have affected investor confidence and stock performance, potentially impacting the company's financial results.

In conclusion, FingerMotion's Q3 2024 earnings fell short of forecasts due to a combination of revenue decline in key business segments, increased costs, and general and administrative expenses, along with challenging market conditions.