Digital spoken word download service Audible revealed record-breaking first quarter revenues last night.
Net revenues hit $12.9 million (up 91 per cent against the year-ago quarter), prompting the company to raise its revenue guidance for the remainder of 2005.
Gross income for the company, which iTunes users will know of because its products are available through Apple's music service, hit an impressive $557,853.
Record customer attract rate
"A record jump in new AudibleListener members and total new customers, tremendous revenue and operating income growth, as well as a new record high for free cash flow all made for a successful quarter for Audible," said Audible chairman and CEO Donald Katz.
"On the heels of a very successful 2004 holiday season, we saw our momentum accelerate in the first quarter and further position us to deliver on Audible's aggressive growth plans for 2005 and beyond."
Listen out for Audible UK
The company also confirmed it intends expanding into the UK and France. In the UK, Audible has negotiated a "significant" licensing deal with BBC Audiobooks that will mean that will bring "hundreds of unabridged audiobooks and the BBC titles derived originally from BBC broadcast programs to Audible", the company said.
Audible now expects 2005 revenues to reach between $62 million to $65 million - an 80-89 per cent year-on-year revenue growth, up from the company's prior guidance of $59 million to $62 million.