CuriosityStream surges after Q2 revenue beat, PT hike by Stifel

CuriosityStream

11/08/2021 14:24

** Shares of video streaming co  CURI  rise 15.6% to $11.99
premarket
    ** On Tuesday, CURI posted Q2 revenue of $15.3 mln vs
analysts' avg. estimate of $15 mln - Refinitiv
    ** Co, launched by Discovery Channel founder John Hendricks,
said total paid subscribers in Q2 were about 20 mln, up 40% y/y
 urn:newsml:reuters.com:*:nBw30Nljqa
    ** "We grew direct subscribers 56% year-over-year while
retaining a higher percentage of users who signed up in Q2 2020
than any other streaming service, based on data from ANTENNA" -
CEO
    ** Co expects full-year revenue of at least $71 mln, which
represents an 80% y/y growth
    ** Stifel raises PT on stock to $13 from $11 on solid
results and a lower-than-expected subscriber churn rate
    ** Up to Tuesday's close, stock down ~26% YTD

 (Reporting by Chavi Mehta in Bengaluru)
 ((Chavi.Mehta@thomsonreuters.com;))