Earnings: JumpTV Net Losses Continue To Grow In Q2
This story was written by David Kaplan.
International broadcast TV aggregator JumpTV's (TSE: JTV) pretax net losses widened in Q2 to $11.4 million from $6.5 million a year ago. In Q1, the company posted a pretax loss of $7.07 million compared with a loss of $3.96 million the year before. Revenues grew to $3.6 million from $1.2 million in Q207. JumpTV credited the revenue growth to the acquisition of CyclingTV and XOS Broadband Networks (rechristened JumpTV Sports) and to coverage of the South American World Cup Qualifiers. The online broadcaster, which has offices in Toronto, New York and Dubai, added that its planned merger with Plainview, NY IPTV provider NeuLion is on track to close on October 1st, pending shareholder and regulatory approvals.
By David Kaplan