StockMarketWire.com - Podcast company Audioboom said annual results were expected to be 'significantly' ahead of market expectations following record quarterly performance in the third quarter of the year.

For the quarter ended 30 September 2021, adjusted earnings before interest, tax, depreciation, amortisation, or EBITDA, profit jumped to US$1.0 million from a US$0.3 million loss last year, as revenue swelled to a record of US$16.9 million, up 161% on Q3 2020.

Average global monthly downloads increased to 99.1 million, up 27% on Q3 2020, and downloads in September 2021 reached a record 107.7 million.

Average brand advertiser count of 370 was up 49% on Q3 2020.

Looking ahead, the company said it now expected to generate revenues in excess of current market expectations for the 2021 financial year and a 'significantly' increased adjusted EBITDA relative to these market expectations.






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