Reservoir Media jumps on higher Q4 revenue and profit

Reservoir Media

21/06/2022 16:14

** Shares of music company Reservoir Media Inc  RSVR.O  rise
as much as 12% to a two-week high of $7.35
    ** Stock last up ~11%, on course for fourth straight session
of gains 
    ** RSVR says Q4 revenue rose about 46% to $35.1 mln, helped
by strong growth in its recorded music segment  urn:newsml:reuters.com:*:nGNX8xx3GY
    ** Q4 net income attributable to common stockholders rose to
 $8.9 mln, or 14 cents per share, from $5.1 mln, or 11 cents per
share, a year earlier  
    ** Company also expects 2023 revenue between $116 mln and
$121 mln 
    ** Stock has fallen ~9% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))