onsdag 5 oktober 2016

Storytel presents good numbers again

Storytel has been on my radar for some time now but so far I have not invested in the company. Yeasterday, Storytell announced that they exceeded their estimates for the third quarter regarding both subscribers and revenue.

The result for the third quarter is 215,000 subscribers in Sweden and 120,000 abroad which is a total increase of 50,000 subscribers in total from the second quarter. Revenue from streaming was 87MSEK (expected 84) in Sweden and 49MSEK (47) abroad. The Revenue has thus increased by 60% from the second quarter.

In spite of this very positive news the stock did not advance yesterday. Initially it went up to 42 but fell back down again and closed at the daily low. After a good start to the summer Storytel entered a consolidation faze and has traded in the range of 36-44.

The Company is making money and growing but at at PE of 62 the expectations are very high.

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