comScore Revenue Leaps

Online measurement firm comScore has reported a 39% increase in revenue to $22.4m for the quarter ended 30 September 2007. This compares with an increase of 8% for the second quarter of the year.

Net income increased 131% to $4.6m, adjusted EBITDA rose 70% to $4.5m and the firm's operating cash flow for the third quarter was $7m, an increase of 25%. Subscription revenue was up 39% to $17.9 million over the prior year period, and accounted for 80% of the firm's total revenue for the period.

President and CEO Dr Magid Abraham said he was pleased with the firm's performance, adding: 'We have been able to grow our revenue among existing customers by successfully upselling products and increasing our penetration of our existing customer base. We have also continued to add new customers at a strong pace both in the US and internationally.'

Abraham added his belief that a number of recently launched products should contribute to revenue in 2008. These include Segment Metrix (www.mrweb.com/drno/news7108.htm ), qSearch 2.0 (www.mrweb.com/drno/news7210.htm ), and Ad Metrix Publisher View (www.mrweb.com/drno/news7361.htm ).

The firm is forecasting fourth quarter revenue of approximately $25.0-25.3m, an increase of 37% to 39% compared with Q4 2006. It has also registered a public offering with the US Securities and Exchange Commission for the sale of just over 6m shares of its common stock.

Web site: www.comscore.com.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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