UK's Bidstack group rises on upbeat FY revenue outlook

Bidstack

13/02/2023 11:12

** Shares of in-game advertising firm Bidstack Groups
 BIDS.L  up as much as 14% at 1.82p
    ** Stock set to record its best day in five months if gains
hold 
    ** Co says group revenue for FY23 will be higher than FY22
    ** BIDS says it expects FY23 revenue from U.S. sales teams
and additional resellers to grow more than previously expected 
    ** Co reports 103% rise in FY revenue to 5.3 million pounds 
($6.38 million) benefiting from a rise in its clients
    ** Adds, a full hearing over its claims against
Netherlands-based commercial partner Azerion's will be likely
held in late Q3 2023
    ** Co says, does not expect to recognise any amounts
ultimately paid by Azerion for FY23 and FY24 as revenue 
    ** Including sessions gains stock down 33% YTD
($1 = 0.8306 pounds)
 (Reporting by Sinchita Mitra in Bengaluru)
 ((Sinchita.mitra@thomsonreuters.com))