Audioboom sees 'continued strong momentum' in Q4
Podcast business Audioboom said on Friday that it had seen "continued strong momentum" and underlying profits ahead of current market expectations.
Audioboom Group
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12:14 15/11/24
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12:50 15/11/24
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12:44 15/11/24
Audioboom said strong momentum had continued into Q4 and that it now expects to generate an increased adjusted underlying earnings profit of $2.8m, even further ahead of recently upgraded market expectations of $2.5m.
The AIM-listed group stated its recent performance had been driven by "continued strong revenue growth" from Showcase, its tech-based advertising marketplace, which recognised 49% more revenue in October 2024 versus the same period a year earlier.
Chief executive Stuart Last said: "With confidence in advertising demand for the remainder of our strongest quarter of the year, I am very pleased to see a second upgrade to our adjusted EBITDA profit expectations this year.
As of 1020 GMT, Audioboom shares were up 2.56% at 220.50p.
Reporting by Iain Gilbert at Sharecast.com