Daily Research News Online no. 17218 - Another Record Quarter for comScore

Another Record Quarter for comScore

May 3 2013

Digital measurement specialist comScore has reported 'record revenues', with first quarter figures up 11% to $68.8m compared with $62.3m a year ago, driven by its Audience Analytics business and mobile and multi-platform products.

Magid Abraham GAAP pre-tax income was up $156k from $606k in the same quarter last year. However, the firm reported a Q1 2013 net loss of $2m compared with a net loss of $471k in the prior year period, as a result of higher sales, marketing, and R&D expenses.

On a pro forma basis, subscription revenue during the quarter was up 15% to $59.4m and represented 86% of total revenue, while project revenue fell 4.2% to $9.4m, primarily due to the seasonal nature of project work, the firm said.

Renewal rate with existing customers remained above 90% on a constant dollar basis and the firm added 62 net new customers who contributed $8m in revenues.

During the period, revenue from outside the US grew 27% on a pro forma basis, and represented 30% of overall revenue, driven by comScore's audience products - particularly in Europe and Latin America.

CEO Magid Abraham (pictured) comments: 'Looking ahead for the remainder of the year, our priorities remain the same. We will maintain and expand our leadership in Audience Analytics with a particular focus on enhancing our mobile and multi-platform measurement products, including ubiquitous measurement of video. We will continue our momentum in advertising measurement by expanding the rollout of vCE and enhancing our ad effectiveness measurement products, and we will expand our Digital Analytix business both in the US and internationally. We're off to a good start in 2013, and our first quarter results are really a good indication of that.'

comScore has raised its full-year guidance and predicts revenue of between $275.5m and $283.5m, and net income between a $7m loss and $1m profit.

Web site: www.comscore.com .