CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Sweden's Acast Q3 sales rise 25% on US growth

By Reuters News


Overview

  • Swedish podcast monetisation platform's Q3 net sales rose 25% yr/yr, led by North America

  • Adjusted EBITDA nearly doubled, and adjusted EBIT margin reached a record high

  • Company acquired Backyard Ventures during the quarter, expanding US presence and omnichannel capabilities


Outlook

  • Company did not provide specific financial guidance for the current or upcoming periods in its press release


Result Drivers

  • NORTH AMERICA GROWTH - Co said net sales in North America rose 54% yr/yr, making it the largest segment

  • HIGHER REVENUE PER LISTEN - Co said Average Revenue Per Listen or View (ARPLV) increased 20% yr/yr to SEK 0.69

  • BACKYARD VENTURES ACQUISITION - Co said Backyard Ventures contributed SEK 28m in sales in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

SEK 802.30 mln

Q3 EPS

SEK 0.24

Q3 Adjusted EBITDA

SEK 77.80 mln

Q3 Gross Margin

39%

Q3 Adjusted EBITDA Margin

10%

Q3 EBIT

SEK 47.70 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the online services peer group is "buy"

  • Wall Street's median 12-month price target for Acast AB (publ) is SEK47.00, about 45.1% above its October 27 closing price of SEK32.40

  • The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 42 three months ago


Reuters Recommended Reads

  • Oct 27 - Sweden's Storytel Q3 sales rise 16% as subscribers grow

  • Oct 26 - Finland's Nitro Games Q3 revenue falls 35%, posts net loss

  • Oct 26 - Trading platform Plus500 Q3 revenue rises on customer growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.