blinkx, the world’s largest and most advanced video search engine, expects to report first half revenues of around $27m, an increase of about 100 per cent on the first six months of last year. The number of video searches and ads served also grew significantly in the six months to June 30, the Cambridge company said.
With revenues growing strongly, it expects to report an operating profit above $1m for the first half that will be ahead of current analyst consensus of $0.63m for the period.
Since the year end (March 31) the company’s cash has increased by some $2m to around $17m, reflecting the positive cash profile of the group.
Suranga Chandratillake, founder and CEO, blinkx, said: “Video advertising is the fastest-growing format online; eMarketer estimates continued growth in spending of almost 500 per cent over the next four years to $11.3 billion in 2014.
“We expect to further accelerate the growth of our business and given our market position remain confident of the outlook.”
from BusinessWeekly
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