Record Quarter for comScore
comScore has announced record revenues of $42m for the second quarter of 2010, up 34% year-on-year. Adjusted earnings also rose by around 28.5%.
Non-GAAP net income was $6.4m, or $0.20 per diluted share, up from $5.2m / $0.17 per diluted share in Q2 2009; while adjusted EBITDA was $9.0m, an increase from $7.0m a year previously and representing a margin of 21.4%.
President and CEO Dr. Magid Abraham said the company was ‘pleased’ with the revenue and adjusted EBITDA figures. ‘Both metrics were well above our previously announced guidance and reflected positive growth in virtually every product area and customer segment. He noted the particular growth of the firm’s Media Metrix 360™ flagship, plus strong growth in business with online publishers, CPG, pharmaceuticals, technology and telecoms.
Existing customer revenue growth was a major driver – up 36% compared to the second quarter of 2009 – while subscription renewal rates were at least 90% and a record 72 net new customers were added, many taking subscriptions.
Abraham expects the acquisition this month of the products division of wireless network analysis firm Nexius to help further expansion, with comScore offering carrier-level analytics for the wireless market.
Dr. Abraham concluded, ‘we are more optimistic regarding our full year outlook. As a result of our positive second quarter performance as well as to reflect the expected effects of our recent acquisitions, we are increasing our full year 2010 revenue growth expectations to a range of 31% to 33% over full year 2009, which is greater than our prior expected range issued earlier this year.’
Q3 expectations are for revenue in the range $44.3-45.1m, including an expected addition of around $4m from Nexius; and adjusted EBITDA between $9.6m and 10.0m.
Web site: www.comscore.com .