Enthusiast Gaming: Rises as revenue, paid subscribers jump
23/03/2021 17:32
** Shares in Canadian digital media company EGLX.TO rise
~8% to C$10.22, set to gain for a fifth straight session
** EGLX on Monday aftermarket reported revenue of C$42.5
mln, a 34% increase sequentially urn:newsml:reuters.com:*:nGNX8T4Z3k
** Says paid subscribers grew 60% in the past 12 months to
end the year at 122,000
** Q4 net and comprehensive loss came in at C$6.9 mln
compared to a pro-forma net and comprehensive loss of C$8 mln in
Q3
** "We will continue to aggressively invest in our direct
sales efforts to drive higher revenue per viewer and margin
growth" - CEO Adrian Montgomery
** Says Q4 direct sales grew 230% to C$3.3 million vs Q3
** Brokerage Canaccord Genuity raises PT to C$12 from
C$8.75; Colliers Securities raises PT to C$12 from C$6.5
** Shares in the company more than doubled in value YTD
(Reporting by Arundhati Sarkar in Bengaluru)
((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))