Olympics help drive growth at search engine blinkx
SHARES in online video search engine blinkx surged by more than a quarter after the Aim-quoted firm revealed it has enjoyed an advertising boost from the United States presidential campaign and the Olympic Games in London, pictured.
Revenues are expected to have hit $80 million (£50m) for the six months to 30 September, up from $44m for the corresponding period last year and defying City expectations for $69.5m.
The company also said it expects to turn a profit of $2.4m, compared with analysts’ forecasts for a $2.4m loss.
blinkx, which earlier this year signed a deal to provide content for Sony’s range of portable electronic devices, also benefited from the “ahead-of-schedule integration of Burst and PVMG”, which the company bought last year.
Peel Hunt analyst Patrick Yau said: “The business continues to exhibit strong growth on the top line, justifying the current rating premium to most in the media sector.”
Shares closed up 26.6 per cent or 13.75p at 65.5p.