Source - Alliance News

Audioboom Group PLC - London-based podcast provider - Expects revenue for the first quarter ended on March 31 to reach $15.4 million, lower than $19.5 million a year earlier. Adjusted earnings before interest, tax, depreciation and amortisation is $200,000, down from $900,000. Average global monthly downloads amount to 125.2 million, up 13% from 110.9 million a year earlier.

Chief Executive Officer Stuart Last says: ‘During [first quarter] we improved our business operations significantly, in spite of challenging market conditions. We now have a record 38 million-plus unique listeners. We have expanded our monthly downloads to more than 125 million - replacing the 30 million monthly downloads that were lost when the Morbid podcast left our network in May 2022. We created a record 2.5 billion advertising impressions in the quarter and made improvements to the revenue shares we receive from advertising.’

Current stock price: 355.00 pence each, down 4.1% on Wednesday afternoon in London

12-month change: down 84%

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