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Blinkx Reaches Adjusted Breakeven As Earnings Ahead Of Expectations

Thu, 14th Jan 2016 09:35

LONDON (Alliance News) - Internet media company Blinkx PLC on Thursday said trading in its third quarter to the end of December was in line with its expectations in what is seasonally its strongest quarter.

Blinkx was up 30% to 20.09 pence on the news.

The group said its core product sales continued to ramp up in the quarter and offset declines seen in its non-core product portfolio, while the group also continued to cut costs across the business.

Blinkx said thanks to the progress it made in the third quarter, profit for the period was ahead of its expectations, meaning it reached breakeven on an adjusted earnings before interest, taxation, depreciation and amortisation measure. The adjusted earnings number strips out one-off costs.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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