blinkx reports strong growth
October 30, 2007
Video search engine blinkx has reported positive financial results for the period ended 30 September 2007. Gross profit for the first half of 2008 was $2.2 million (E1.5m), with a gross margin of 74 per cent and daily searches have grown by 280 per cent.
Suranga Chandratillake, founder and CEO of blinkx, said: “We are pleased to report a strong performance throughout our initial reporting period, with revenues 23 per cent ahead of the top analyst forecast driven by significant growth in daily searchesâ€¦ The popularity of online video is at an all time high, and we are seeing the proliferation of not only user-generated content, but also professionally-produced, high-value programming from established media companies, such as CBS, NBC and News Corp.”