Score Media posts 32% Q3 profit growth, revenues jump 10%
Toronto-based sports entertainment company Score Media (TSE:SCR) reported that third quarter profits rose 32%, citing rapid organic growth in its digital media segment, and strong performance in its core television business operations.
For the three months ending May 31, Score Media posted sales of 13.2 million, an increase of 10% compared to the $12 million a year ago.
The company's bottom line for the quarter was $0.75 million, or one cent per share, compared to $0.57 million, or one cent per share, for the same comparable period a year prior.
The sports media company's profits were in-line with analyst estimates.
"Our core television operations continue to perform very well. In addition, with the rapid organic growth of ScoreMobile and our acquisition of SportsTap, we are making significant strides in the expansion of our digital media business, particularly in the United States," said Score Media's chairman, John Levy.
Score Media's EBITDA, or earnings before interest, taxes, depreciation and amortization, for the quarter came in at $2.2 million, up from $1.9 million a year earlier.
Back in May, Score Media bought U.S.-based mobile sports app SportsTap, adding to its portfolio of mobile apps which include ScoreMobile, ScoreMobile FC and theScore iPad Edition and increasing its user base to more than three million. Other digital media assets include theScore.com.
Score Media also operates theScore satellite radio, which is available across North America on SiriusXM. The company staffs about 270 people.
The company's primary asset, theScore Television Network, is a national specialty television service providing sports news, information, highlights and live event programming in more than 6.8 million homes across Canada.
Related news
- Yellow Diamonds - A Gap in the Diamond market
- Coffee with Samso: Episode 1, Australian Tungsten Projects and How the Chinese Market View The Tungsten sector
- Chasing for Kryptonite, the unknown other Lithium source
- What is In-Situ Recovery? Mining in a National Park with no environmental footprint
- Buds & Duds: Cannabis stocks drop but Weekend Unlimited shares jump on CBD hemp seed news
- Hemispherx treats first patient with cancer drug Ampligen in Phase 2 clinical trials
- THC Global granted cannabis Manufacture Licence, shares surge 20%
.jpg)