blinkx hints at approximately $80MN in first half revenues
Editor | 05-11-2012
Just before it makes a full announcement of its half-yearly trading figures, video search engine provider blinkx has revealed that it expects to report revenues for H12012 of approximately $80 million, driving a profit of around $2.4 million.
If realised, such a performance will be ahead of market expectations for the period and will be due to the company tapping into what blinkx calls “powerful secular trends” driving the growth of video advertising, such as the proliferation of broadband and connected devices, and the accelerating migration and consumption of online video.
S Brian Mukherjee, CEO of blinkx, said: “This has been an exceptional first half for blinkx. The business has shown strong growth, driven by its underlying fundamentals in combination with the ahead-of-schedule integration of Burst and PVMG into the blinkx engine and increased advertising spend allocated to special events – specifically the summer Olympics and the US presidential elections. While these one-time events have provided us with a better-than-expected boost to revenues during the traditionally slower summer months, we anticipate revenues for the second half to be similar to the first half, resulting in a modest increase in our expectations versus consensus for the full year.
"This market momentum underscores the vitality of the sector and our business model. Based on our performance this period and the fundamentals of the sector, we remain confident in our outlook for the rest of the year.”