Earnings: comScore Q1 Revs Up 35 Percent; Raises Guidance Slightly
This story was written by Joseph Weisenthal.
Despite an initial dip, the market decided pretty quickly that the whole Google (NSDQ: GOOG) earnings confusion wouldn't have much bearing on comScore's (NSDQ: SCOR) outlook today the internet measurement firm raised its outlook for the year, after posting 41 percent revenue growth to $26.3 million from $18.7 million. Net income jumped 66 percent to $2.53 million from $1.54 million. In order to bolster its argument that the economy is not having an effect on its business, it notes that its own customers are seeing, on average 38 percent revenue growthas the saying goes, you're only as strong as your base, and comScore believes its own base is strong. It also had a renewal rate of 93 percent in the quarter. For the full year, comScore is inching up its guidance to a range of $113-$13.6 million (pretty tight range for just being in Q1) from a previous outlook of $112.2-$113.2 million.
By Joseph Weisenthal