Part of the b-list 2012 picks – Blinkx provided an unexpected robust update today. It comes after weakness from Google and others suggested that Ad spend was slowing faster than many had thought.
Video search/online channel is still very much in its infancy – with Blinkx leading the charge.
If they can continue to buck the trend, then it might not be too long before the likes of Google decide take them out.
29 October 2012, Blinkx plc
BLINKX EXPECTS TO REPORT FIRST HALF REVENUE OF APPROXIMATELY $80M
Schedules First Half Results and Conference Call for 14 November, 2012
SAN FRANCISCO, CALIF. – October 29, 2012-blinkxplc (LSE AIM: BLNX) today announces a trading update for the first six months of the financial year ended 30 September, 2012.
The Company expects to report revenues for the first half of approximately $80m. Profit before tax, including one-time costs and amortization of purchased intangibles,will be around $2.4m, ahead of market expectations for the period.
S. Brian Mukherjee, CEO of blinkx, commented, “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 andincreased 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.
There are powerful secular trends driving the growth of video advertising: the proliferation of broadband and connected devices, and the accelerating migration and consumption of video online. 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.”
The company expects to announce its results for the period on 14 November, 2012.