comScore Results Show Rapid Growth

US online measurement firm comScore has reported Q1 revenue of $26.4m, up 41% from $18.6m in Q1 2007. Pre-tax net income rose by 165% to $4.2m, net income by 64% to $2.5m and adjusted EBITDA by 104% to $5.6m.

Revenue exceeded the firm's guidance of approximately $25.9m to $26.2m. Growth among existing customers was 38% to $22.1m, while subscription renewals grew 48% to $21.5m and accounted for 81% of comScore's total revenue for Q1.

International revenue was $3.4m in the first quarter of 2008, an increase of 88% compared to the corresponding prior year period, and accounted for 13% of the company's total revenue compared to 10% of total revenue in Q1 2007.

'We continued to make gains in penetrating our existing customer base both in the U.S. and internationally, while adding a net 53 new customers in the first quarter,' said CEO and President Magid Abraham. 'Despite recent indications of a slowing US economy, our confidence in the strength of our business and client demand for our products and services remains unchanged.'

During the quarter, the firm launched Ad Metrix - Advertiser View which supports agencies' and publishers' media buying and selling activities, and yesterday it unveiled enhancements to its Plan Metrix product which links consumers' offline behaviour and attitudes with their online activity.

comScore is forecasting full-year 2008 revenue of approximately $113.0m to $113.6m; up 30% over actual full-year 2007 revenue results. This represents an increase over the firm's previous full-year 2008 revenue guidance of $112.2m to $113.2m.

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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