Globo first half beats expectations

Globo first half beats expectations

Globo performed ahead of market expectations in the half year to June 30, saying it remained confident about its future prospects.

The mobile and software services firm posted revenue of €46.5m in the first half, ahead of market expectations - up from €32m for the same period in the previous year.

Globo said revenue growth was driven by organic licence and services growth. The company expects its interim pre-tax profit to be slightly ahead of market expectations.

Sales for its GO!Enterprise product jumped 95% to €19.9m - up from €10.2 m in the same period last year. Globo's consumer mobile services reported revenues of €20.1m, an increase of 12% from €17.9m.

It acquired Sourcebits during the first half of the year and integrated it into its Mobility Business Services division.

'We remain confident about our future prospects,' said Globo chief executive Costis Papadimitrakopoulos in a statement.

He added, 'In particular, the successful acquisition of the services division of Sourcebits Inc allows us to increase our exposure to the mobile application development platform market for enterprise customers.'



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