Cinedigm surges on strong Q3 results
15/02/2022 15:49
** Streaming technology and entertainment company's shares
CIDM.O jump 23.2% to $1.0 after strong Q3 results
** Co says https://s28.q4cdn.com/806700497/files/doc_news/Cinedigm-Reports-Strong-Fiscal-2022-Third-Quarter-Financial-Results-With-Record-Streaming-Revenues-2022.pdf
Q3 revenue jumped 42% to $14.1 mln, while loss narrowed to $0.5
mln from $9.7 mln a year ago
** Adds that streaming channel revenues set a record and
that it is profitable year-to-date
** "We had our strongest results ever in streaming this
quarter, registering triple-digit growth for the fourth quarter
in a row," says CEO Chris McGurk
** Stock down 16% YTD, after near 80% surge in 2021
(Reporting by Sruthi Shankar)
((sruthi.shankar@thomsonreuters.com;))