Believe Q3 Earnings: Paid Streaming Gains Lead to 9% Revenue Increase

French music company Believe benefitted from “healthy” paid streaming growth as its third-quarter revenue grew 9.1% to 215 million euros , the Paris-based company announced Tuesday .

Revenue from Asia Pacific and Africa grew 6.6% to 55.8 million euros and accounted for 25.9% of total revenue. The company was helped by increased paid streaming penetration in the region but hurt by soft ad-supported streaming and a stronger euro against local currencies. Greater China was particularly strong, while Japan was aided by Believe’s roll-out of its Premium Solutions offering. The Americas accounted for 14.4% of Believe’s revenue and grew 8.

Looking forward, Believe increased its forecast for adjusted earnings before taxes, interest and amortization margin from 5% at the mid-year mark to 5.5%. The company reiterated its guidance for full-year organic growth of 14%.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Coca-Cola beats earnings estimates, raises outlook as volume grows despite price hikesCoca-Cola's stock has fallen 15% this year, dragging its market value down to about $234 billion.
Fuente: CNBC - 🏆 12. / 72 Leer más »

The week ahead: Bond yields and earnings reportsThe 10-year US Treasury yield continues its march towards 5%, the yield surged by 30 basis points last week, which triggered a decline in risky assets
Fuente: FXStreetNews - 🏆 14. / 72 Leer más »

Stock futures edge higher on Sunday night as Wall Street awaits big tech earnings: Live updatesStock futures ticked higher on Sunday night, ahead of a big week of earnings reports and key economic data releases.
Fuente: NBCNewYork - 🏆 270. / 63 Leer más »

Stock futures edge higher on Sunday night as Wall Street awaits big tech earnings: Live updatesStock futures ticked higher on Sunday night, ahead of a big week of earnings reports and key economic data releases.
Fuente: CNBC - 🏆 12. / 72 Leer más »