Content material distribution platform Zedge, Inc. (NYSE: ZDGE) reported revenue for the third quarter of 2021, in comparison with a loss final 12 months, as revenues greater than doubled year-over-year. The corporate’s inventory gained Thursday night quickly after the announcement.
Third-quarter web revenue was $1.9 million or $0.13 per share, which marked an enchancment from final 12 months’s lack of $0.3 million or $0.03 per share. Analysts had forecast a decrease revenue for the newest quarter.
Driving the turnaround, revenues greater than doubled to $5.25 million and topped Wall Avenue’s expectations.
Zedge’s shares rose 45% since final month and closed Thursday’s common session greater. The inventory gained additional throughout prolonged buying and selling, instantly after the announcement.
(this story shall be up to date shortly)