Storytel surges on first net profit in eight years

Storytel AB (publ)

30/07/2024 08:43

** Storytel  STORYb.ST  shares rise 10% after the Swedish
audio- and e-book streaming company posts both net sales and
adjusted EBITDA in Q2 2% above consensus estimates
    ** Stock on track for best day since January
    ** Storytel also posts first positive net profit since 2016,
which DNB says is a result of disciplined transformation in
recent years
    ** Net sales of SEK 924 million ($85.5 million) correspond
to 8% growth year on year
    ** "Confirmation of margin expansion reduces risk in 2024
guidance", Pareto says

($1 = 10.8109 Swedish crowns)

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))