Audible matched expectations in its third quarter ended September 30, 2005, the company revealed last night.
The company, which supplies audiobooks through iTunes, reported record revenue of $16.8 million, up 81 per cent, year on year. As expected, this still returned an operating loss of $793,000 and a net loss after taxes of $189,000.
The company saw its customers climb 75 per cent, year on year.
"The third quarter saw continued momentum in our acquisition of new AudibleListener members," said Donald Katz, chairman and CEO of Audible. "But perhaps more importantly, execution on our AudibleAir, Audible UK, education, and podcasting initiatives has allowed us to plant flags in new markets that will become increasingly important contributors to our growth and profitability in 2006 and beyond."
The company today reaffirmed 2005 full-year guidance for consolidated net revenue of $62 million to $65 million, which represents 80 per cent to 89 per cent year-over-year revenue growth.