19th May 2016 13:26
LONDON (Alliance News) - Mobile Streams PLC on Thursday said it now expects its annual loss before interest, tax, depreciation and amortisation and operating loss will be "materially higher" than it had previously expected.
The company said this was as a result of its investment in new products like ad-funded services, and scaling in new geographies like India, as well as ongoing challenges in its core market of Argentina.
This will lead to lower revenue for the year to end-June, and in turn greater losses.
Mobile Streams expects to release its results in late September or early October.
Shares in Mobile Streams were down 5.7% at 6.25 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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