StockMarketWire.com - Audioboom said Thursday it expected annual profits would fall short of market expectations even as revenue swelled to a record for the quarter through August.

The abortive Triton Digital transaction earlier this year led to the company losing some key content which was expected to drag earnings (EBITDA) below the company's and market expectations, Audioboom said.

For the 13 months ended 31 December 2018, Audioboom said it expected to deliver revenue in the range of US$11.5m to US$13m, up from US$6.06m seen at the year ended 30 November 2017.

The adjusted earnings (EBITDA) loss was expected between US$4.5m and US$5.5m, compared with a loss of US$5.7m a year earlier.

For the three months to 31 August, the company expected revenue to come in at $2.4m, up 26% from a year earlier.

Total subscribers stood at 1,883 at 30 September 2018, up 786 subscribers reported at the end of fourth quarter last year.

At 9:55am: [LON:BOOM] Audioboom Group share price was -0.7p at 1.63p



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