Content material distribution platform Zedge, Inc. (NYSE American: ZDGE) has reported larger internet revenue for the third quarter of 2024, on an adjusted foundation. The underside line benefitted from a double-digit improve in revenues.
Complete revenues moved up 13.8% year-over-year to $7.7 million within the April quarter. On the finish of the quarter, Zedge had round 27.7 million month-to-month lively customers.
The corporate reported adjusted earnings of $0.50 million for the third quarter, in comparison with $0.30 million within the prior-year quarter. On a per-share foundation, earnings elevated to $0.03 in Q3 from $0.02 within the corresponding interval of 2023.
“I’m especially encouraged that we followed up record quarterly revenue in Q2 with record Q3 revenue and that we did not see the customary post-holiday hangover. Our work to optimize our advertising stack continues to pay off, and iOS subscription revenue was up more than 11% sequentially,” mentioned Jonathan Reich, chief government officer of Zedge.
