LiveOne Announces Expected Fiscal Q2 2024 Record Revenue Of $28M+ Vs $29.26M Est.; And $2.5M Adjusted EBITDA With Trailing 6-Month Revenue of $55M And $4.7M Adjusted EBITDA
Portfolio Pulse from Benzinga Newsdesk
LiveOne (NASDAQ: LVO) has announced expected fiscal Q2 2024 record revenue of $28M+ vs $29.26M estimated, and $2.5M adjusted EBITDA with trailing 6-month revenue of $55M and $4.7M adjusted EBITDA. The company's Audio Division, including PodcastOne (NASDAQ: PODC) and Slacker Radio, expects Q2 revenue of $26M+ and adjusted EBITDA of $5M+. LiveOne has also cut an additional $2M of costs, totaling over $32M, and continues to expand its share buyback program, which currently has $5M remaining.
October 19, 2023 | 1:49 pm
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POSITIVE IMPACT
LiveOne's expected Q2 2024 record revenue is slightly below estimates, but the company has managed to cut costs and expand its share buyback program. This could potentially attract investors, leading to a positive impact on the stock.
While LiveOne's expected Q2 2024 revenue is slightly below estimates, the company's cost-cutting measures and expanded share buyback program could be seen as positive by investors. This could lead to increased demand for the stock, potentially driving its price up in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
PodcastOne, a part of LiveOne's Audio Division, is included in the expected Q2 revenue of $26M+. This could potentially have a positive impact on PODC's stock.
As PodcastOne is a part of LiveOne's Audio Division, the expected Q2 revenue of $26M+ could be seen as a positive sign by investors. This could potentially lead to increased demand for PODC's stock, potentially driving its price up in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60