NEWS3 November 2011

ComScore posts record revenue but deeper loss in Q3

Financials North America

US— ComScore has reported record quarterly revenue of $58.8m for the third quarter of 2011, but net loss for the period has grown compared to last year.

Revenue climbed 29% as losses increased from $2.1m to $3.9m, which the firm attributed to costs of around $5m related to litigation, acquisitions and restructuring.

In August the firm was sued over alleged secret downloads of tracker software – claims that are “without merit” the firm says. It was also sued and is counter-suing Nielsen over patent infringement claims. ComScore bought the ad verification firm AdXpose this summer.

Discussing the Q3 results, president and CEO Magid Abraham noted the addition of 64 new customers during the quarter and that the level of revenue coming from outside the US had grown 77% and was now responsible for 27% of sales.

He said: “Customer satisfaction levels remain high as demonstrated by renewal rates that were above our historical benchmark of 90%, or higher on a constant dollar basis, and which reached a record renewal level for the company.”

Looking ahead, Abraham said the firm was “very positive” about the firm’s future and anticipated that full-year revenue would come in at between $232.9m and $233.5m, but with a pre-tax loss of between $14.8m and $15.4m.