XLMedia H1 revenues slump following Gambling.com sale

30th Jul 2024 09:49

(Sharecast News) - Digital media firm XLMedia said on Tuesday that interim revenues had slumped following its $37.5m sale of Gambling.com.

XLMedia said group total revenues had shrunk from $29.4m in H123 to $15.6m in H124, with discontinued business revenues dropping from $12.5m to $5.2m and continuing business revenues shrinking from $16.9m to $10.4m.

Looking forward, XLMedia said adjusted underlying earnings for the continuing business, excluding revenues and ongoing costs of the discontinued business, was estimated at roughly $5.0m for the full year, benefiting from four months of the NFL season and reductions in its central cost base in H224.

As of 1330 BST, XLMedia shares were up 1.27% at 10.0p.

Reporting by Iain Gilbert at Sharecast.com