blinkx expected to register profit from next year
Online TV technology company Blinkx has exceeded its own guidance and analysts expectations with first half revenues of US$27.4 million (€19.6 million) and an operating profit of US$2 million. The blinkx video search engine, which contains numerous TV shows and clips, recorded annual growth of 40% and video stream were up over 100%.
“There are various difficulties in valuing blinkx given the fledgling nature of its business and the lack of obvious comparable companies,” noted investment bank Citigroup in the wake of the results. “That said, on the back of strong revenue growth, we now expect profitability from end-2011.”