6th Oct 2014 08:01
LONDON (Alliance News) - Phorm Corporation Ltd said Monday it had seen revenues of USD474,000 in its third quarter to end-September, around 90% of the level of revenues it posted in its first half.
Phorm operates an opt-in online advertising platform that protects users' privacy whilst making content and advertising more relevant to them.
The company posted revenues of USD528,800 in the first half of 2014. Since the half year end the company has increased the number of internet service providers its technology is deployed with to 16 from 10, leading to a jump up in its number of users.
Peak daily unique users rose to 73.5 million in the quarter compared to 37.8 million in the half year.
Phorm also saw a higher number of advertising requests from website publishers, rising to 73.8 billion in the quarter from 72.9 billion in the half year. It served 3.3 billion advertisements in the quarter, up from 2.6 billion in the half year. This increase was due to new advertising relationship in China and elsewhere.
"The company is continuing to focus on the acceleration of revenue growth while maintaining the high standards of advertising performance that have been achieved to date," Phorm said in a statement.
Shares in Phorm were trading up 1.1% at 11.50 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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