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Q3 Revenue Up for Confident comScore
Online audience measurement firm comScore has reported a 37% Q3 revenue increase to $30.7m, while launching a new service to track distributed web content across third party sites.
Net income declined 85% from $3.6m to $600,000, but rose 24% to $5.7m on an adjusted basis.
Excluding the impact of the M:Metrics acquisition and transition-related costs, free cash flow was approximately $4.0m. The firm says it added 32 new customers during the third quarter of 2008.
'We have already made changes to align us with the current challenging economic environment and feel confident about our strong market and competitive position,' President and CEO Magid Abraham noted.
Separately, the firm rolled out the comScore Extended Web measurement (CXW) service to enable publishers of distributed content - such as video, music, games, photos or news updates - to identify the technology and objects used to distribute this content.
Through tagging of ads, the system can verify the actual delivery of ad packages to produce a reach metric for the specific sections of a site that are included in a targeted ad buy.
In addition, comScore has introduced a granular Gross Ratings Point (GRP) measure for online ads in order to enable the user to compare online media with traditional media. This metric leverages the firm's ad identification technology and its ability to measure ad impressions at the level of an individual Internet user.
Abraham says the new service will tap into additional revenue streams, allowing the company to 'weather difficult macro economic conditions and emerge with strength when the economic environment improves'.
Web site: www.comScore.com .
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