Analysts look twice at blinkx
blinkx , the video search engine spun out of Autonomy, jumped 48 per cent to 19¼p after reporting full-year results ahead of expectations. It said the second half of the year had been nothing short of transformational with the company moving into profit at the operating level.
Analysts agreed. “These are an excellent set of results, representing a significant acceleration in growth and reinforcing our view that the company is on track to reach profitability in the current financial year,” said Canaccord Genuity. “Video advertising remains the fastest-growing segment of the online advertising market, supported by the astonishing growth of online video viewing.”
Citigroup reckons revenues at blinkx will double in the next year.