Sign up USA
Proactive Investors - Run By Investors For Investors

Zedge sees increase in app downloads and monthly active users in its fiscal third quarter

The mobile content platform signed a deal with artist Nicki Minaj to promote her new music on the app
Zedge logo
The app has been downloaded over 320 million times

Zedge Inc (NYSE:ZDGE) announced its fiscal third-quarter earnings, reporting a double-digit increase in app downloads.

The mobile-content platform reported a loss of US$0.03 per share on revenue of US$2.55mln compared with a loss of US$0.02 per share on revenue of US$2.53mln in the previous year’s third quarter.

The platform allows smartphone users to personalize their phones with ringtones, wallpapers, app icons and notification sounds.

"Q3 2018 was a mixed bag for us. On the upside, Zedge Premium, our marketplace for digital content, shows early promising potential. Even without aggressive promotion or deep product integration, usage and conversion rates are outpacing our expectations," said CEO Tom Arnoy.

In the last 30 days of the quarter, its monthly active users increased nearly 8% to 34.2 million compared with 31.7 million in the previous year’s third quarter.

App installations increased nearly 24% to 321.5 million from 260.4 million.

Multi-platinum artist Nicki Minaj will be using Zedge Premium to promote her new music during her upcoming world tour.

Shares of the New York-based company were up less than 1% to US$4.22 in Wednesday after-hours trading.

View full ZDGE profile View Profile

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use