“Audible, which is the exclusive provider of spoken-word content for Apple Computer Inc.’s iTunes Music Store, reported a net loss of $189,000, or a penny per share, compared with a year-ago profit of $483,884, or 2 cents per share …Audible shares jumped in after-hours trading as results met Wall Street expectations,” The Associated Press reports. “Revenue surged 81 percent to $16.8 million from $9.3 million a year ago, driven by new customers. Total new customers ballooned 75 percent to 79,800 over the prior-year quarter.
Audible jumped $1.21 to $11.33 in after hours trading.
Full article here.
Full Audible earnings press release here.
Advertisement: Download thousands of audiobooks on iTunes.
check your zeroes and story source.
the loss was $189 MILLION on revenue of 16.8 BILLION, etc
…or at least according to YahooNews and MACNN, but the Yahoo finance story has its zeroes mixed up as well, so who knows?
maybe you are correct
can’t figure out who is right on this one
here is the Yahoo finance line:
http://biz.yahoo.com/ap/051103/earns_audible_inc.html?.v=1
This is fascinating. I wish the Forbes article had explained what expenses Audible accrued to end up with a loss in the same qtr sees an 81% increase in revenue and 75% increase in customer base. Last year they make money, this year with major growth in customer base and revenue they lose money. Wha happen?
seriously doubt audible makes more money than apple or even itunes for that matter.
First Post?
So hitchin a ride with Apple sure can pay off. Hope its a long long ride.
Given that Dell only bills around $13 billion a quarter, I suspect that MDN’s figures are correct.
Hmmm. Lets see… They LOST $189,000 vs. a prior year PROFIT of $484,000. This is after revenue almost doubled. And the stock price jumped! Good thing Shaw Wu and Gene Munster are not analysing this!!!
MW: need. I need an economics refresher!
I think yahoo needs to check their numbers. By their numbers, they claim that Audible is floating around 19 billion shares of stock. Riiiiiight!
nope, mdn got this one right
See here: http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=ADBL&script=419&layout=-6&item_id=778396
Doesn´t anybody check what they are writing?
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It would be so easy to go and check it from the Audible´s site like aToMac did. There are all the numbers needed and more.
I believe the loss relates to expenditures for new content/partner deals they announced last year that sent stock tumbling from $30 to eventually $10.
Seems that company is saying that those expenditures are starting to pay off now in increased sales.
Audible is in a growth phase right now. That means investors don’t care so much about immediate return, and aren’t looking at profit/loss figures as long as the liquidity and cash flow are reasonable. Audible is currently expected to spend all their profits on attracting new revenue. So the fact that money was lost is irrelevant — this is a very good result.
My brain hurts…
what caught my eye originally wasn’t the numbers – until I read the stories – but how different sites choose to “spin” the same story:
v1: Audible revenue surges 81% over prior-year quarter (MDN)
v2: Audible Posts 3Q Loss of $189 Million (Yahoo)
very different take if one simply looked at the headlines or had no context. I suspect if this was a MS related story the two sites may have reversed their headline treatment.
Of course, once read, the numbers magnitude errors gets to start wondering just *what* is going on. $189,000 loss/$189 million loss! Yikes.