Audioboom shows growth but shares down

AIM-listed podcast company Audioboom (LON:BOOM) has dropped by 7.78%, to 166p (as of 14:00 BST), despite posting an 86% rise in revenues for the quarter ended 30th September. Revenues for the first nine months of the financial year are 127% higher than the same period of 2018.

Interim CEO Stuart Last commented: “We’re pleased to confirm another strong quarter of growth for Audioboom, cementing our position as one of the largest independent podcast companies in the world. New shows launched into our Audioboom Originals Network made a significant impact as we increased our commitment to creative bravery and solidified our marketing strategy. We continue to execute our strategy efficiently, proving our business model both in the US and the UK, and delivering dynamic growth across all our key performance markers. Audioboom is in the strongest position since its founding, and I’m excited to lead this incredible team into a new phase, fully focused on driving the core business forward and delivering value to our podcast partners and our shareholders”.